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Marvell (MRVL) Stock Jumps 21.9%: Will It Continue to Soar?
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Marvell Technology (MRVL - Free Report) shares rallied 21.9% in the last trading session to close at $60.96. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 25.5% loss over the past four weeks
The upswing was likely driven by a broader market rally following US President Donald Trump’s announcement of pausing the reciprocal tariffs for 90 days. However, a baseline tariff of 10% on imports would continue to apply.
This chipmaker is expected to post quarterly earnings of $0.61 per share in its upcoming report, which represents a year-over-year change of +154.2%. Revenues are expected to be $1.88 billion, up 61.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Marvell, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on MRVL going forward to see if this recent jump can turn into more strength down the road.
Marvell is part of the Zacks Electronics - Semiconductors industry. indie Semiconductor, Inc. (INDI - Free Report) , another stock in the same industry, closed the last trading session 20.2% higher at $2. INDI has returned -35.7% in the past month.
For indie Semiconductor, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.08. This represents a change of +20% from what the company reported a year ago. indie Semiconductor currently has a Zacks Rank of #2 (Buy).
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Marvell (MRVL) Stock Jumps 21.9%: Will It Continue to Soar?
Marvell Technology (MRVL - Free Report) shares rallied 21.9% in the last trading session to close at $60.96. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 25.5% loss over the past four weeks
The upswing was likely driven by a broader market rally following US President Donald Trump’s announcement of pausing the reciprocal tariffs for 90 days. However, a baseline tariff of 10% on imports would continue to apply.
This chipmaker is expected to post quarterly earnings of $0.61 per share in its upcoming report, which represents a year-over-year change of +154.2%. Revenues are expected to be $1.88 billion, up 61.6% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Marvell, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on MRVL going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Marvell is part of the Zacks Electronics - Semiconductors industry. indie Semiconductor, Inc. (INDI - Free Report) , another stock in the same industry, closed the last trading session 20.2% higher at $2. INDI has returned -35.7% in the past month.
For indie Semiconductor, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.08. This represents a change of +20% from what the company reported a year ago. indie Semiconductor currently has a Zacks Rank of #2 (Buy).