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Increased Earnings Estimates Seen for Marvell Technology (MRVL): Can It Move Higher?

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Marvell Technology Group Ltd. (MRVL - Free Report) is an integrated circuit manufacturer that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on MRVL’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Marvell Technology could be a solid choice for investors.

Current Quarter Estimates for MRVL

In the past 30 days, 4 estimates have gone higher for Marvell Technology while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 5 cents a share 30 days ago, to 8 cents today, a move of 60.0%.

Current Year Estimates for MRVL

Meanwhile, Marvell Technology’s current year figures are also looking quite promising, with 4 estimates moving higher in the past month while none have gone lower in the same time frame. The consensus estimate trend has also seen a boost for this time frame, increasing from 18 cents per share 30 days ago to 22 cents per share today, an increase of 22.2%.

MARVELL TECH GP Price and Consensus

MARVELL TECH GP Price and Consensus | MARVELL TECH GP Quote

Bottom Line

The stock has also started to move higher lately, adding 12.9% per the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.

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