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Marvell Technology (MRVL) Gains As Market Dips: What You Should Know
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Marvell Technology (MRVL - Free Report) closed the most recent trading day at $22.60, moving +0.89% from the previous trading session. This change outpaced the S&P 500's 0.28% loss on the day. At the same time, the Dow lost 0.39%, and the tech-heavy Nasdaq lost 0.45%.
Coming into today, shares of the chipmaker had lost 10.83% in the past month. In that same time, the Computer and Technology sector lost 3.84%, while the S&P 500 lost 1.21%.
Investors will be hoping for strength from MRVL as it approaches its next earnings release, which is expected to be May 30, 2019. The company is expected to report EPS of $0.15, down 53.13% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $650.18 million, up 7.53% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.93 per share and revenue of $2.88 billion, which would represent changes of -21.85% and +0.35%, respectively, from the prior year.
Any recent changes to analyst estimates for MRVL should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.42% lower. MRVL currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that MRVL has a Forward P/E ratio of 24.19 right now. For comparison, its industry has an average Forward P/E of 20.39, which means MRVL is trading at a premium to the group.
We can also see that MRVL currently has a PEG ratio of 3.46. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Semiconductor - Communications was holding an average PEG ratio of 3.46 at yesterday's closing price.
The Semiconductor - Communications industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 14, which puts it in the top 6% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MRVL in the coming trading sessions, be sure to utilize Zacks.com.
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Marvell Technology (MRVL) Gains As Market Dips: What You Should Know
Marvell Technology (MRVL - Free Report) closed the most recent trading day at $22.60, moving +0.89% from the previous trading session. This change outpaced the S&P 500's 0.28% loss on the day. At the same time, the Dow lost 0.39%, and the tech-heavy Nasdaq lost 0.45%.
Coming into today, shares of the chipmaker had lost 10.83% in the past month. In that same time, the Computer and Technology sector lost 3.84%, while the S&P 500 lost 1.21%.
Investors will be hoping for strength from MRVL as it approaches its next earnings release, which is expected to be May 30, 2019. The company is expected to report EPS of $0.15, down 53.13% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $650.18 million, up 7.53% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.93 per share and revenue of $2.88 billion, which would represent changes of -21.85% and +0.35%, respectively, from the prior year.
Any recent changes to analyst estimates for MRVL should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.42% lower. MRVL currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that MRVL has a Forward P/E ratio of 24.19 right now. For comparison, its industry has an average Forward P/E of 20.39, which means MRVL is trading at a premium to the group.
We can also see that MRVL currently has a PEG ratio of 3.46. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Semiconductor - Communications was holding an average PEG ratio of 3.46 at yesterday's closing price.
The Semiconductor - Communications industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 14, which puts it in the top 6% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MRVL in the coming trading sessions, be sure to utilize Zacks.com.