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Marvell Technology (MRVL) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Marvell Technology (MRVL - Free Report) closed at $42.81, marking a -1.27% move from the previous day. This change lagged the S&P 500's 0.25% loss on the day.
Prior to today's trading, shares of the chipmaker had lost 11.11% over the past month. This has lagged the Business Services sector's loss of 1.95% and the S&P 500's gain of 1.26% in that time.
Wall Street will be looking for positivity from MRVL as it approaches its next earnings report date. In that report, analysts expect MRVL to post earnings of $0.27 per share. This would mark year-over-year growth of 50%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $803.02 million, up 15.77% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.38 per share and revenue of $3.51 billion. These totals would mark changes of +50% and +18.23%, respectively, from last 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 1.24% higher. MRVL is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, MRVL currently has a Forward P/E ratio of 31.4. This valuation marks a premium compared to its industry's average Forward P/E of 31.27.
Also, we should mention that MRVL has a PEG ratio of 1.54. 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. The Technology Services industry currently had an average PEG ratio of 2.38 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 186, putting it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Marvell Technology (MRVL) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Marvell Technology (MRVL - Free Report) closed at $42.81, marking a -1.27% move from the previous day. This change lagged the S&P 500's 0.25% loss on the day.
Prior to today's trading, shares of the chipmaker had lost 11.11% over the past month. This has lagged the Business Services sector's loss of 1.95% and the S&P 500's gain of 1.26% in that time.
Wall Street will be looking for positivity from MRVL as it approaches its next earnings report date. In that report, analysts expect MRVL to post earnings of $0.27 per share. This would mark year-over-year growth of 50%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $803.02 million, up 15.77% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.38 per share and revenue of $3.51 billion. These totals would mark changes of +50% and +18.23%, respectively, from last 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 1.24% higher. MRVL is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, MRVL currently has a Forward P/E ratio of 31.4. This valuation marks a premium compared to its industry's average Forward P/E of 31.27.
Also, we should mention that MRVL has a PEG ratio of 1.54. 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. The Technology Services industry currently had an average PEG ratio of 2.38 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 186, putting it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.