What’s Happening With Marvell Technology Stock? – Marvell Tech (NASDAQ:MRVL)
Marvell Technology, Inc. MRVL shares are trading lower Thursday amid a selloff in the semiconductor sector.
The details:
The Nasdaq 100, which tracks 100 of the largest non-financial technology stocks, fell 2.94% on Wednesday, marking its worst day since 2022. Semiconductor stocks are pulling back as investors digest several recent developments, including the possible expansion of export restrictions to China. ASML Holding NV’s ASML disclosure of results and comments from former President Trump about Taiwan.
ASML led the semiconductor market lower on Wednesday, with its shares falling more than 12% after the company reported second-quarter numbers lower than the same period a year earlier and guided for quarterly gross margin in the range of 50% to 51%, versus expectations of 51.1%.
Read next: Discover reports better-than-expected Q2 results: Here are the details
Investors also considered the former president’s comments Donald Trump over Taiwan, which cast doubt on the stability of the region, which is essential for semiconductor manufacturing.
“I know the people very well, I respect them very much. They really took about 100% of our chip business. I think Taiwan should pay us for defense,” Trump said in the Bloomberg Businessweek interview, published Tuesday.
Additionally, investors weighed a Bloomberg report that the Biden administration is considering imposing the most severe trade restrictions on China if companies continue to give the country access to advanced semiconductor technology.
According to data from Benzinga Pro, Marvell Technology shares are trading below their 50-day moving average of $71.48 on low volume on Thursday.
Should I sell my MRVL shares?
When deciding whether to hold or sell a stock, investors should consider their time horizon, unrealized gains, and total return.
Marvell Technology shares have risen 5.44% over the past year. An investor who purchased Marvell shares earlier this year would have a profit of $8.49 per share if they sold them today. The stock has fallen 8.98% over the past month, meaning an investor who purchased shares on June 1 would see a capital loss of $1.55.
Marvell Technology shares hit an all-time high of $91.51, representing a 37.28% increase from current levels.
Investors can also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Marvell stock currently has an RSI of 30.37, indicating neutral conditions.
For access to advanced charting and analysis tools and stock data, check out Benzinga PRO. Try it for free.
MRVL Price Action: According to Benzinga Pro, Marvell shares were down 1.9% to $66.64 at the time of publication on Thursday.
Read too:
Image: Shutterstock
