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Marvell Technology (MRVL) Gains As Market Dips: What You Should Know
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In the latest trading session, Marvell Technology (MRVL - Free Report) closed at $57.57, marking a +0.35% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.77%. At the same time, the Dow lost 0.84%, and the tech-heavy Nasdaq lost 1.17%.
Heading into today, shares of the chipmaker had lost 12.59% over the past month, lagging the Business Services sector's loss of 3.3% and the S&P 500's loss of 2.13% in that time.
Investors will be hoping for strength from Marvell Technology as it approaches its next earnings release, which is expected to be August 24, 2023. The company is expected to report EPS of $0.32, down 43.86% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.33 billion, down 12.27% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.51 per share and revenue of $5.51 billion, which would represent changes of -28.77% and -6.98%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Marvell Technology. These revisions help to show the ever-changing nature of 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. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Marvell Technology is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, Marvell Technology is currently trading at a Forward P/E ratio of 38.11. Its industry sports an average Forward P/E of 22.31, so we one might conclude that Marvell Technology is trading at a premium comparatively.
Meanwhile, MRVL's PEG ratio is currently 6.41. 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 1.57 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 104, which puts it in the top 42% 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) Gains As Market Dips: What You Should Know
In the latest trading session, Marvell Technology (MRVL - Free Report) closed at $57.57, marking a +0.35% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.77%. At the same time, the Dow lost 0.84%, and the tech-heavy Nasdaq lost 1.17%.
Heading into today, shares of the chipmaker had lost 12.59% over the past month, lagging the Business Services sector's loss of 3.3% and the S&P 500's loss of 2.13% in that time.
Investors will be hoping for strength from Marvell Technology as it approaches its next earnings release, which is expected to be August 24, 2023. The company is expected to report EPS of $0.32, down 43.86% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.33 billion, down 12.27% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.51 per share and revenue of $5.51 billion, which would represent changes of -28.77% and -6.98%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Marvell Technology. These revisions help to show the ever-changing nature of 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. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Marvell Technology is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, Marvell Technology is currently trading at a Forward P/E ratio of 38.11. Its industry sports an average Forward P/E of 22.31, so we one might conclude that Marvell Technology is trading at a premium comparatively.
Meanwhile, MRVL's PEG ratio is currently 6.41. 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 1.57 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 104, which puts it in the top 42% 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.