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Has Marvell Technology (MRVL) Outpaced Other Business Services Stocks This Year?

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For those looking to find strong Business Services stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Marvell Technology (MRVL - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.

Marvell Technology is one of 277 companies in the Business Services group. The Business Services group currently sits at #7 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Marvell Technology is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for MRVL's full-year earnings has moved 1.6% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Our latest available data shows that MRVL has returned about 79.7% since the start of the calendar year. In comparison, Business Services companies have returned an average of -27.1%. This shows that Marvell Technology is outperforming its peers so far this year.

Another Business Services stock, which has outperformed the sector so far this year, is Seagate (STX - Free Report) . The stock has returned 66.7% year-to-date.

Over the past three months, Seagate's consensus EPS estimate for the current year has increased 7%. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, Marvell Technology is a member of the Technology Services industry, which includes 134 individual companies and currently sits at #177 in the Zacks Industry Rank. On average, stocks in this group have lost 32.4% this year, meaning that MRVL is performing better in terms of year-to-date returns. Seagate is also part of the same industry.

Investors with an interest in Business Services stocks should continue to track Marvell Technology and Seagate. These stocks will be looking to continue their solid performance.


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Seagate Technology Holdings PLC (STX) - free report >>

Marvell Technology, Inc. (MRVL) - free report >>

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