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Marvell Technology (MRVL) Dips More Than Broader Markets: What You Should Know
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Marvell Technology (MRVL - Free Report) closed at $50.77 in the latest trading session, marking a -1.05% move from the prior day. This change lagged the S&P 500's daily loss of 0.72%. Meanwhile, the Dow lost 0.57%, and the Nasdaq, a tech-heavy index, lost 0.87%.
Prior to today's trading, shares of the chipmaker had gained 8.94% over the past month. This has outpaced the Computer and Technology sector's gain of 4.37% and the S&P 500's gain of 4.69% in that time.
Wall Street will be looking for positivity from MRVL as it approaches its next earnings report date. The company is expected to report EPS of $0.29, up 70.59% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $786.17 million, up 9.55% from the prior-year quarter.
MRVL's full-year Zacks Consensus Estimates are calling for earnings of $0.93 per share and revenue of $2.96 billion. These results would represent year-over-year changes of +40.91% and +9.56%, respectively.
Investors might also notice recent changes to analyst estimates for MRVL. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.17% higher. MRVL is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that MRVL has a Forward P/E ratio of 55.35 right now. For comparison, its industry has an average Forward P/E of 55.35, which means MRVL is trading at a no noticeable deviation to the group.
Investors should also note that MRVL has a PEG ratio of 2.84 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. MRVL's industry had an average PEG ratio of 3.71 as of yesterday's close.
The Semiconductor - Communications industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 122, which puts it in the top 48% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Marvell Technology (MRVL) Dips More Than Broader Markets: What You Should Know
Marvell Technology (MRVL - Free Report) closed at $50.77 in the latest trading session, marking a -1.05% move from the prior day. This change lagged the S&P 500's daily loss of 0.72%. Meanwhile, the Dow lost 0.57%, and the Nasdaq, a tech-heavy index, lost 0.87%.
Prior to today's trading, shares of the chipmaker had gained 8.94% over the past month. This has outpaced the Computer and Technology sector's gain of 4.37% and the S&P 500's gain of 4.69% in that time.
Wall Street will be looking for positivity from MRVL as it approaches its next earnings report date. The company is expected to report EPS of $0.29, up 70.59% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $786.17 million, up 9.55% from the prior-year quarter.
MRVL's full-year Zacks Consensus Estimates are calling for earnings of $0.93 per share and revenue of $2.96 billion. These results would represent year-over-year changes of +40.91% and +9.56%, respectively.
Investors might also notice recent changes to analyst estimates for MRVL. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.17% higher. MRVL is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that MRVL has a Forward P/E ratio of 55.35 right now. For comparison, its industry has an average Forward P/E of 55.35, which means MRVL is trading at a no noticeable deviation to the group.
Investors should also note that MRVL has a PEG ratio of 2.84 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. MRVL's industry had an average PEG ratio of 3.71 as of yesterday's close.
The Semiconductor - Communications industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 122, which puts it in the top 48% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.