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Marvell Technology (MRVL) Stock Sinks As Market Gains: Here's Why
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Marvell Technology (MRVL - Free Report) ended the recent trading session at $70.11, demonstrating a -1.36% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.22%. Elsewhere, the Dow gained 0.36%, while the tech-heavy Nasdaq added 0.32%.
Coming into today, shares of the chipmaker had gained 17.98% in the past month. In that same time, the Business Services sector gained 0.42%, while the S&P 500 gained 1.61%.
Analysts and investors alike will be keeping a close eye on the performance of Marvell Technology in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.46, showcasing no movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $1.42 billion, indicating a 0.03% decline compared to the corresponding quarter of the prior 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.
Any recent changes to analyst estimates for Marvell Technology should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.15% lower. At present, Marvell Technology boasts a Zacks Rank of #5 (Strong Sell).
In the context of valuation, Marvell Technology is at present trading with a Forward P/E ratio of 47.07. This expresses a premium compared to the average Forward P/E of 23.98 of its industry.
We can additionally observe that MRVL currently boasts a PEG ratio of 6.16. 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 was holding an average PEG ratio of 1.45 at yesterday's closing price.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 65, which puts it in the top 26% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Marvell Technology (MRVL) Stock Sinks As Market Gains: Here's Why
Marvell Technology (MRVL - Free Report) ended the recent trading session at $70.11, demonstrating a -1.36% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.22%. Elsewhere, the Dow gained 0.36%, while the tech-heavy Nasdaq added 0.32%.
Coming into today, shares of the chipmaker had gained 17.98% in the past month. In that same time, the Business Services sector gained 0.42%, while the S&P 500 gained 1.61%.
Analysts and investors alike will be keeping a close eye on the performance of Marvell Technology in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.46, showcasing no movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $1.42 billion, indicating a 0.03% decline compared to the corresponding quarter of the prior 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.
Any recent changes to analyst estimates for Marvell Technology should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.15% lower. At present, Marvell Technology boasts a Zacks Rank of #5 (Strong Sell).
In the context of valuation, Marvell Technology is at present trading with a Forward P/E ratio of 47.07. This expresses a premium compared to the average Forward P/E of 23.98 of its industry.
We can additionally observe that MRVL currently boasts a PEG ratio of 6.16. 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 was holding an average PEG ratio of 1.45 at yesterday's closing price.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 65, which puts it in the top 26% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.