Marvell Technology Inc. (MRVL Stock) Rose 32% Intraday

Marvell Technology Inc(NASDAQ: MRVL) stock jumped as high as 32% in the May 26 trading session. In the same trading session, the MRVL stock opened trading at $58.67, and after hitting 52 weeks of $65.75, it closed at $65.51.

As per analysts, the boost in MRVL stock price is a reflex action of a positive earnings and revenue release. On May 25, the semiconductor solutions provider reported upbeat earnings, which created curiosity in traders to purchase and hold more company stocks.

According to data from TradingView, MRVL stock prices soared 45.80% in weekly trading sessions. In monthly trading sessions, the stock jumped over 73%. Since last one year, the stock price has shown an impressive hike of 23.02%.

Marvell Technologies’ market capitalization has seen a massive surge, and as of July 12, 2022, it was around $34.41 billion, and at the press time, it was $56.136 billion. Most MRVL shares are free float, and only 0.89% are closely held.

Marvell Technology Incorporation is based in the US. It is focused on developing and producing semiconductors and other related technologies. The company was co-founded by Dr. Sehat Sutardja, his wife, and his brother Pantas Sutardja.

Revenue and Earning of Marvell Technology

Marvell Technologies released its financial reports for Q1 2023 on May 25; the estimated revenue for the first quarter was $1.30 billion, but it reported revenue was $1.32 billion after a hike of 1.67% in revenue.

Simultaneously in the last quarter of 2022, MRVL reported increased revenue compared to the estimated amount. The company generates its revenue from four to five different sectors, the majority of which is from Data Centers, followed by Enterprise Networking, Carrier Infrastructure, Consumer, and Automotive/Industrial.

A significant portion of revenue is generated from China, followed by the United States, Malaysia, Thailand, Singapore, Taiwan, Japan, Finland, and the Philippines. Per Crunchbase, some of the significant investments of the tech companies are d-Matrix, Sonatus, Wilocity, and Wintegra.

Marvell has acquired dozens of technology companies, including Tanzanite Silicon Solutions, Innovium, INPHI, Avera Semiconductor, Aquantia, Xelerated, Lamba Networks, and Pico Mobile Networks.

Overview of the Global Semiconductor Market

In its research report based on the Semiconductor market, Gartner Inc highlighted the global market of semiconductors was valued at $599.6 billion in 2022; the report also highlights that a steep decline of 11.2% is expected to be seen by the end of 2023.

It is important to note that reports claim that global revenue of the semiconductor market will grow 18.5% in 2024, and overall valuation will reach $630.9 billion. The usage of semiconductors might decrease, but it is pretty impossible to replace them.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing