Marvell Technology Group Ltd. (NASDAQ:MRVL) spotted trading -9.97% off 52-week high price. On the other end, the stock has been noted 61.58% away from the low price over the last 52-weeks. The stock changed -1.07% to recent value of $23.17. The stock transacted 10973877 shares during most recent day however it has an average volume of 13071.89K shares. The company has 667.38M of outstanding shares and 633.37M shares were floated in the market.
Marvell (NASDAQ:MRVL) reported that it has entered a broader strategic partnership with Arm, a subsidiary of SoftBank Group, to accelerate the design and development of next-generation Marvell® ThunderX® server processor technology. This new agreement includes dedicated Arm support for Marvell’s R&D in the server processor technology area for at least three more years. As a result, Marvell can further expand its leading-edge Arm®-based server products and roadmap to enable the next generation of cloud and data center infrastructure.
Marvell and Arm share a vision for bringing differentiated, scalable, and highly optimized server processor solutions to multiple markets — from high-performance cloud computing all the way to the network edge. The companies have closely collaborated over the last decade to launch a compelling alternative to the x86 computing market with industry-leading technology backed by a rich ecosystem. Marvell’s ThunderX2®, based on the Armv8-A architecture, is the industry’s most widely supported Arm-based server processor, providing higher performance, lower power, and reduced total cost of ownership versus currently deployed architectures.
“Marvell has demonstrated innovative silicon and software technologies to deliver high-performance Arm-based solutions across the infrastructure market,” said Rene Haas, president of Arm’s IP Products Group. “With this expanded partnership, Marvell is now well positioned to develop and ramp some of the most advanced server processor technology in the world.”
Its earnings per share (EPS) expected to touch remained -135.60% for this year while earning per share for the next 5-years is expected to reach at 8.73%. MRVL has a gross margin of 50.90% and an operating margin of 1.50% while its profit margin remained -6.20% for the last 12 months.
According to the most recent quarter its current ratio was 2.2 that represents company’s ability to meet its current financial obligations. The price moved ahead of 2.32% from the mean of 20 days, 1.75% from mean of 50 days SMA and performed 20.98% from mean of 200 days price. Company’s performance for the week was 5.22%, -5.16% for month and YTD performance remained 43.11%.
Category – Market Movers
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