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Marvell Technology (MRVL) Stock Sinks As Market Gains: Here's Why
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Marvell Technology (MRVL - Free Report) closed at $65.68 in the latest trading session, marking a -0.29% move from the prior day. This move lagged the S&P 500's daily gain of 0.08%. Elsewhere, the Dow saw a downswing of 0.31%, while the tech-heavy Nasdaq appreciated by 0.02%.
Shares of the chipmaker have appreciated by 11.1% over the course of the past month, outperforming the Business Services sector's gain of 2.13% and the S&P 500's gain of 3.52%.
Investors will be eagerly watching for the performance of Marvell Technology in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.46, indicating constancy compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $1.42 billion, indicating a 0.03% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.51 per share and revenue of $5.5 billion, which would represent changes of -28.77% and -7.13%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Marvell Technology. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. The Zacks Consensus EPS estimate has moved 0.33% lower within the past month. As of now, Marvell Technology holds a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, Marvell Technology is holding a Forward P/E ratio of 43.62. For comparison, its industry has an average Forward P/E of 23.63, which means Marvell Technology is trading at a premium to the group.
It is also worth noting that MRVL currently has a PEG ratio of 5.71. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Technology Services industry stood at 1.57 at the close of the market yesterday.
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 55, this industry ranks in the top 22% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Marvell Technology (MRVL) Stock Sinks As Market Gains: Here's Why
Marvell Technology (MRVL - Free Report) closed at $65.68 in the latest trading session, marking a -0.29% move from the prior day. This move lagged the S&P 500's daily gain of 0.08%. Elsewhere, the Dow saw a downswing of 0.31%, while the tech-heavy Nasdaq appreciated by 0.02%.
Shares of the chipmaker have appreciated by 11.1% over the course of the past month, outperforming the Business Services sector's gain of 2.13% and the S&P 500's gain of 3.52%.
Investors will be eagerly watching for the performance of Marvell Technology in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.46, indicating constancy compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $1.42 billion, indicating a 0.03% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.51 per share and revenue of $5.5 billion, which would represent changes of -28.77% and -7.13%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Marvell Technology. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. The Zacks Consensus EPS estimate has moved 0.33% lower within the past month. As of now, Marvell Technology holds a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, Marvell Technology is holding a Forward P/E ratio of 43.62. For comparison, its industry has an average Forward P/E of 23.63, which means Marvell Technology is trading at a premium to the group.
It is also worth noting that MRVL currently has a PEG ratio of 5.71. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Technology Services industry stood at 1.57 at the close of the market yesterday.
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 55, this industry ranks in the top 22% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.