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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 at $50.47 in the latest trading session, marking a +0.14% move from the prior day. This move outpaced the S&P 500's daily loss of 0.44%. Meanwhile, the Dow lost 0.38%, and the Nasdaq, a tech-heavy index, lost 0.72%.
Heading into today, shares of the chipmaker had lost 1.62% over the past month, lagging the Computer and Technology sector's gain of 10.21% and the S&P 500's gain of 4.46% in that time.
MRVL will be looking to display strength as it nears its next earnings release, which is expected to be March 3, 2021. On that day, MRVL is projected to report earnings of $0.29 per share, which would represent year-over-year growth of 70.59%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $786.17 million, up 9.55% from the year-ago period.
Any recent changes to analyst estimates for MRVL should also be noted by investors. 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. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. MRVL is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, MRVL currently has a Forward P/E ratio of 38.99. Its industry sports an average Forward P/E of 38.99, so we one might conclude that MRVL is trading at a no noticeable deviation comparatively.
It is also worth noting that MRVL currently has a PEG ratio of 2. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Semiconductor - Communications industry currently had an average PEG ratio of 3.43 as of yesterday's close.
The Semiconductor - Communications industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 17, putting it in the top 7% 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.
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 at $50.47 in the latest trading session, marking a +0.14% move from the prior day. This move outpaced the S&P 500's daily loss of 0.44%. Meanwhile, the Dow lost 0.38%, and the Nasdaq, a tech-heavy index, lost 0.72%.
Heading into today, shares of the chipmaker had lost 1.62% over the past month, lagging the Computer and Technology sector's gain of 10.21% and the S&P 500's gain of 4.46% in that time.
MRVL will be looking to display strength as it nears its next earnings release, which is expected to be March 3, 2021. On that day, MRVL is projected to report earnings of $0.29 per share, which would represent year-over-year growth of 70.59%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $786.17 million, up 9.55% from the year-ago period.
Any recent changes to analyst estimates for MRVL should also be noted by investors. 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. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. MRVL is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, MRVL currently has a Forward P/E ratio of 38.99. Its industry sports an average Forward P/E of 38.99, so we one might conclude that MRVL is trading at a no noticeable deviation comparatively.
It is also worth noting that MRVL currently has a PEG ratio of 2. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Semiconductor - Communications industry currently had an average PEG ratio of 3.43 as of yesterday's close.
The Semiconductor - Communications industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 17, putting it in the top 7% 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.
To follow MRVL in the coming trading sessions, be sure to utilize Zacks.com.