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Marvell Technology (MRVL) Falls More Steeply Than Broader Market: What Investors Need to Know
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Marvell Technology (MRVL - Free Report) closed at $67.70 in the latest trading session, marking a -1.64% move from the prior day. This move lagged the S&P 500's daily loss of 1.61%. Meanwhile, the Dow experienced a drop of 0.82%, and the technology-dominated Nasdaq saw a decrease of 2.23%.
The chipmaker's shares have seen an increase of 18.33% over the last month, surpassing the Business Services sector's gain of 1.82% and the S&P 500's gain of 3.28%.
The investment community will be closely monitoring the performance of Marvell Technology in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.46, reflecting no change from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $1.42 billion, down 0.03% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.51 per share and a revenue of $5.5 billion, representing changes of -28.77% and -7.13%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Marvell Technology. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 0.13% higher within the past month. Marvell Technology presently features a Zacks Rank of #4 (Sell).
In the context of valuation, Marvell Technology is at present trading with a Forward P/E ratio of 45.58. This denotes a premium relative to the industry's average Forward P/E of 24.51.
It's also important to note that MRVL currently trades at a PEG ratio of 5.97. 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 1.48 at yesterday's closing price.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 79, putting it in the top 32% of all 250+ industries.
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.
To follow MRVL in the coming trading sessions, be sure to utilize Zacks.com.
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Marvell Technology (MRVL) Falls More Steeply Than Broader Market: What Investors Need to Know
Marvell Technology (MRVL - Free Report) closed at $67.70 in the latest trading session, marking a -1.64% move from the prior day. This move lagged the S&P 500's daily loss of 1.61%. Meanwhile, the Dow experienced a drop of 0.82%, and the technology-dominated Nasdaq saw a decrease of 2.23%.
The chipmaker's shares have seen an increase of 18.33% over the last month, surpassing the Business Services sector's gain of 1.82% and the S&P 500's gain of 3.28%.
The investment community will be closely monitoring the performance of Marvell Technology in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.46, reflecting no change from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $1.42 billion, down 0.03% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.51 per share and a revenue of $5.5 billion, representing changes of -28.77% and -7.13%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Marvell Technology. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 0.13% higher within the past month. Marvell Technology presently features a Zacks Rank of #4 (Sell).
In the context of valuation, Marvell Technology is at present trading with a Forward P/E ratio of 45.58. This denotes a premium relative to the industry's average Forward P/E of 24.51.
It's also important to note that MRVL currently trades at a PEG ratio of 5.97. 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 1.48 at yesterday's closing price.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 79, putting it in the top 32% of all 250+ industries.
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.
To follow MRVL in the coming trading sessions, be sure to utilize Zacks.com.