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Marvell Technology (MRVL) Outpaces Stock Market Gains: What You Should Know
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Marvell Technology (MRVL - Free Report) closed the most recent trading day at $62.89, moving +1.19% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.74%. Elsewhere, the Dow gained 0.25%, while the tech-heavy Nasdaq added 11.47%.
Heading into today, shares of the chipmaker had lost 1.43% over the past month, lagging the Business Services sector's gain of 3.26% and the S&P 500's gain of 3.34% in that time.
Wall Street will be looking for positivity from Marvell Technology as it approaches its next earnings report date. On that day, Marvell Technology is projected to report earnings of $0.32 per share, which would represent a year-over-year decline of 43.86%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.33 billion, down 12.27% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.51 per share and revenue of $5.5 billion. These totals would mark changes of -28.77% and -7.04%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Marvell Technology. Recent revisions tend to reflect the latest near-term business trends. 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.39% higher. Marvell Technology currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Marvell Technology has a Forward P/E ratio of 41.28 right now. This valuation marks a premium compared to its industry's average Forward P/E of 23.23.
Also, we should mention that MRVL has a PEG ratio of 6.94. 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 Technology Services was holding an average PEG ratio of 1.68 at yesterday's closing price.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 111, putting it in the top 45% 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) Outpaces Stock Market Gains: What You Should Know
Marvell Technology (MRVL - Free Report) closed the most recent trading day at $62.89, moving +1.19% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.74%. Elsewhere, the Dow gained 0.25%, while the tech-heavy Nasdaq added 11.47%.
Heading into today, shares of the chipmaker had lost 1.43% over the past month, lagging the Business Services sector's gain of 3.26% and the S&P 500's gain of 3.34% in that time.
Wall Street will be looking for positivity from Marvell Technology as it approaches its next earnings report date. On that day, Marvell Technology is projected to report earnings of $0.32 per share, which would represent a year-over-year decline of 43.86%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.33 billion, down 12.27% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.51 per share and revenue of $5.5 billion. These totals would mark changes of -28.77% and -7.04%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Marvell Technology. Recent revisions tend to reflect the latest near-term business trends. 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.39% higher. Marvell Technology currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Marvell Technology has a Forward P/E ratio of 41.28 right now. This valuation marks a premium compared to its industry's average Forward P/E of 23.23.
Also, we should mention that MRVL has a PEG ratio of 6.94. 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 Technology Services was holding an average PEG ratio of 1.68 at yesterday's closing price.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 111, putting it in the top 45% 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.