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Marvell Technology (MRVL) Stock Moves -0.72%: What You Should Know
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Marvell Technology (MRVL - Free Report) closed at $56.27 in the latest trading session, marking a -0.72% move from the prior day. This change was narrower than the S&P 500's 0.86% loss on the day.
Coming into today, shares of the chipmaker had gained 12.57% in the past month. In that same time, the Business Services sector lost 12.84%, while the S&P 500 gained 3.22%.
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 $0.31 per share. This would mark year-over-year growth of 47.62%. Meanwhile, our latest consensus estimate is calling for revenue of $1.07 billion, up 46.49% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.40 per share and revenue of $4.24 billion. These totals would mark changes of +52.17% and +42.9%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for MRVL. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 6.55% lower within the past month. MRVL currently has a Zacks Rank of #3 (Hold).
Investors should also note MRVL's current valuation metrics, including its Forward P/E ratio of 40.42. Its industry sports an average Forward P/E of 32.89, so we one might conclude that MRVL is trading at a premium comparatively.
Also, we should mention that MRVL has a PEG ratio of 1.97. 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. MRVL's industry had an average PEG ratio of 2.77 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 219, putting it in the bottom 14% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Marvell Technology (MRVL) Stock Moves -0.72%: What You Should Know
Marvell Technology (MRVL - Free Report) closed at $56.27 in the latest trading session, marking a -0.72% move from the prior day. This change was narrower than the S&P 500's 0.86% loss on the day.
Coming into today, shares of the chipmaker had gained 12.57% in the past month. In that same time, the Business Services sector lost 12.84%, while the S&P 500 gained 3.22%.
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 $0.31 per share. This would mark year-over-year growth of 47.62%. Meanwhile, our latest consensus estimate is calling for revenue of $1.07 billion, up 46.49% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.40 per share and revenue of $4.24 billion. These totals would mark changes of +52.17% and +42.9%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for MRVL. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 6.55% lower within the past month. MRVL currently has a Zacks Rank of #3 (Hold).
Investors should also note MRVL's current valuation metrics, including its Forward P/E ratio of 40.42. Its industry sports an average Forward P/E of 32.89, so we one might conclude that MRVL is trading at a premium comparatively.
Also, we should mention that MRVL has a PEG ratio of 1.97. 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. MRVL's industry had an average PEG ratio of 2.77 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 219, putting it in the bottom 14% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.