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Marvell Technology (MRVL) Dips More Than Broader Market: What You Should Know
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Marvell Technology (MRVL - Free Report) closed at $80.37 in the latest trading session, marking a -1.68% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.37%. Elsewhere, the Dow lost 0.74%, while the tech-heavy Nasdaq lost 0.03%.
The stock of chipmaker has risen by 10.09% in the past month, leading the Computer and Technology sector's gain of 4.58% and the S&P 500's gain of 2.68%.
The investment community will be closely monitoring the performance of Marvell Technology in its forthcoming earnings report. It is anticipated that the company will report an EPS of $0.67, marking a 123.33% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $2.01 billion, showing a 57.89% escalation compared to the year-ago quarter.
MRVL's full-year Zacks Consensus Estimates are calling for earnings of $2.79 per share and revenue of $8.22 billion. These results would represent year-over-year changes of +77.71% and +42.61%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Marvell Technology. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Marvell Technology presently features a Zacks Rank of #3 (Hold).
Digging into valuation, Marvell Technology currently has a Forward P/E ratio of 29.26. This denotes a premium relative to the industry average Forward P/E of 28.8.
We can also see that MRVL currently has a PEG ratio of 0.68. 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. By the end of yesterday's trading, the Electronics - Semiconductors industry had an average PEG ratio of 1.64.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 73, which puts it in the top 30% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Marvell Technology (MRVL) Dips More Than Broader Market: What You Should Know
Marvell Technology (MRVL - Free Report) closed at $80.37 in the latest trading session, marking a -1.68% move from the prior day. The stock trailed the S&P 500, which registered a daily loss of 0.37%. Elsewhere, the Dow lost 0.74%, while the tech-heavy Nasdaq lost 0.03%.
The stock of chipmaker has risen by 10.09% in the past month, leading the Computer and Technology sector's gain of 4.58% and the S&P 500's gain of 2.68%.
The investment community will be closely monitoring the performance of Marvell Technology in its forthcoming earnings report. It is anticipated that the company will report an EPS of $0.67, marking a 123.33% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $2.01 billion, showing a 57.89% escalation compared to the year-ago quarter.
MRVL's full-year Zacks Consensus Estimates are calling for earnings of $2.79 per share and revenue of $8.22 billion. These results would represent year-over-year changes of +77.71% and +42.61%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Marvell Technology. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Marvell Technology presently features a Zacks Rank of #3 (Hold).
Digging into valuation, Marvell Technology currently has a Forward P/E ratio of 29.26. This denotes a premium relative to the industry average Forward P/E of 28.8.
We can also see that MRVL currently has a PEG ratio of 0.68. 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. By the end of yesterday's trading, the Electronics - Semiconductors industry had an average PEG ratio of 1.64.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 73, which puts it in the top 30% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.