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Marvell Technology (MRVL) Advances While Market Declines: Some Information for Investors
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Marvell Technology (MRVL - Free Report) ended the recent trading session at $47.26, demonstrating a +1.35% swing from the preceding day's closing price. This move outpaced the S&P 500's daily loss of 0.48%. On the other hand, the Dow registered a loss of 1.12%, and the technology-centric Nasdaq increased by 0.38%.
Prior to today's trading, shares of the chipmaker had lost 13.65% over the past month. This has lagged the Business Services sector's loss of 4% and the S&P 500's loss of 2.65% in that time.
The investment community will be paying close attention to the earnings performance of Marvell Technology in its upcoming release. It is anticipated that the company will report an EPS of $0.40, marking a 29.82% fall compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $1.4 billion, down 8.85% from the year-ago period.
MRVL's full-year Zacks Consensus Estimates are calling for earnings of $1.53 per share and revenue of $5.52 billion. These results would represent year-over-year changes of -27.83% and -6.67%, respectively.
Investors might also notice recent changes to analyst estimates for Marvell Technology. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, Marvell Technology possesses a Zacks Rank of #2 (Buy).
Looking at its valuation, Marvell Technology is holding a Forward P/E ratio of 30.43. This represents a premium compared to its industry's average Forward P/E of 22.35.
Meanwhile, MRVL's PEG ratio is currently 3.33. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Technology Services industry currently had an average PEG ratio of 1.38 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 91, which puts it in the top 37% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Marvell Technology (MRVL) Advances While Market Declines: Some Information for Investors
Marvell Technology (MRVL - Free Report) ended the recent trading session at $47.26, demonstrating a +1.35% swing from the preceding day's closing price. This move outpaced the S&P 500's daily loss of 0.48%. On the other hand, the Dow registered a loss of 1.12%, and the technology-centric Nasdaq increased by 0.38%.
Prior to today's trading, shares of the chipmaker had lost 13.65% over the past month. This has lagged the Business Services sector's loss of 4% and the S&P 500's loss of 2.65% in that time.
The investment community will be paying close attention to the earnings performance of Marvell Technology in its upcoming release. It is anticipated that the company will report an EPS of $0.40, marking a 29.82% fall compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $1.4 billion, down 8.85% from the year-ago period.
MRVL's full-year Zacks Consensus Estimates are calling for earnings of $1.53 per share and revenue of $5.52 billion. These results would represent year-over-year changes of -27.83% and -6.67%, respectively.
Investors might also notice recent changes to analyst estimates for Marvell Technology. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, Marvell Technology possesses a Zacks Rank of #2 (Buy).
Looking at its valuation, Marvell Technology is holding a Forward P/E ratio of 30.43. This represents a premium compared to its industry's average Forward P/E of 22.35.
Meanwhile, MRVL's PEG ratio is currently 3.33. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Technology Services industry currently had an average PEG ratio of 1.38 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 91, which puts it in the top 37% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.