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Marvell Technology (MRVL) Beats Stock Market Upswing: What Investors Need to Know
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In the latest market close, Marvell Technology (MRVL - Free Report) reached $84.87, with a +1.71% movement compared to the previous day. The stock exceeded the S&P 500, which registered a gain of 0.16% for the day. Meanwhile, the Dow experienced a drop of 0.37%, and the technology-dominated Nasdaq saw an increase of 0.78%.
Prior to today's trading, shares of the chipmaker had gained 15.7% over the past month. This has outpaced the Business Services sector's gain of 2.81% and the S&P 500's gain of 1.67% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Marvell Technology in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.40, marking a 2.44% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $1.45 billion, reflecting a 2.47% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $1.46 per share and a revenue of $5.52 billion, demonstrating changes of -3.31% and +0.27%, respectively, from the preceding year.
Any recent changes to analyst estimates for Marvell Technology should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 remained stagnant within the past month. As of now, Marvell Technology holds a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Marvell Technology has a Forward P/E ratio of 57.3 right now. This represents a premium compared to its industry's average Forward P/E of 25.35.
Also, we should mention that MRVL has a PEG ratio of 1.94. 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. Technology Services stocks are, on average, holding a PEG ratio of 1.48 based on yesterday's closing prices.
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 47, this industry ranks in the top 19% of all industries, numbering over 250.
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.
To follow MRVL in the coming trading sessions, be sure to utilize Zacks.com.
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Marvell Technology (MRVL) Beats Stock Market Upswing: What Investors Need to Know
In the latest market close, Marvell Technology (MRVL - Free Report) reached $84.87, with a +1.71% movement compared to the previous day. The stock exceeded the S&P 500, which registered a gain of 0.16% for the day. Meanwhile, the Dow experienced a drop of 0.37%, and the technology-dominated Nasdaq saw an increase of 0.78%.
Prior to today's trading, shares of the chipmaker had gained 15.7% over the past month. This has outpaced the Business Services sector's gain of 2.81% and the S&P 500's gain of 1.67% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Marvell Technology in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.40, marking a 2.44% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $1.45 billion, reflecting a 2.47% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $1.46 per share and a revenue of $5.52 billion, demonstrating changes of -3.31% and +0.27%, respectively, from the preceding year.
Any recent changes to analyst estimates for Marvell Technology should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 remained stagnant within the past month. As of now, Marvell Technology holds a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Marvell Technology has a Forward P/E ratio of 57.3 right now. This represents a premium compared to its industry's average Forward P/E of 25.35.
Also, we should mention that MRVL has a PEG ratio of 1.94. 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. Technology Services stocks are, on average, holding a PEG ratio of 1.48 based on yesterday's closing prices.
The Technology Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 47, this industry ranks in the top 19% of all industries, numbering over 250.
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.
To follow MRVL in the coming trading sessions, be sure to utilize Zacks.com.