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Marvell Technology (MRVL) Rises Higher Than Market: Key Facts
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In the latest close session, Marvell Technology (MRVL - Free Report) was up +1.92% at $81.77. This move outpaced the S&P 500's daily gain of 0.5%. Meanwhile, the Dow experienced a rise of 0.64%, and the technology-dominated Nasdaq saw an increase of 0.43%.
The chipmaker's shares have seen a decrease of 7.08% over the last month, not keeping up with the Computer and Technology sector's loss of 0.15% and the S&P 500's gain of 0.18%.
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 $0.79, marking a 31.67% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $2.21 billion, indicating a 21.43% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.84 per share and a revenue of $8.18 billion, representing changes of +80.89% and +41.88%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Marvell Technology. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. At present, Marvell Technology boasts a Zacks Rank of #2 (Buy).
In the context of valuation, Marvell Technology is at present trading with a Forward P/E ratio of 28.23. Its industry sports an average Forward P/E of 36.82, so one might conclude that Marvell Technology is trading at a discount comparatively.
Meanwhile, MRVL's PEG ratio is currently 0.6. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Electronics - Semiconductors was holding an average PEG ratio of 1.99 at yesterday's closing price.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 45, putting it in the top 19% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Marvell Technology (MRVL) Rises Higher Than Market: Key Facts
In the latest close session, Marvell Technology (MRVL - Free Report) was up +1.92% at $81.77. This move outpaced the S&P 500's daily gain of 0.5%. Meanwhile, the Dow experienced a rise of 0.64%, and the technology-dominated Nasdaq saw an increase of 0.43%.
The chipmaker's shares have seen a decrease of 7.08% over the last month, not keeping up with the Computer and Technology sector's loss of 0.15% and the S&P 500's gain of 0.18%.
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 $0.79, marking a 31.67% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $2.21 billion, indicating a 21.43% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.84 per share and a revenue of $8.18 billion, representing changes of +80.89% and +41.88%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Marvell Technology. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. At present, Marvell Technology boasts a Zacks Rank of #2 (Buy).
In the context of valuation, Marvell Technology is at present trading with a Forward P/E ratio of 28.23. Its industry sports an average Forward P/E of 36.82, so one might conclude that Marvell Technology is trading at a discount comparatively.
Meanwhile, MRVL's PEG ratio is currently 0.6. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Electronics - Semiconductors was holding an average PEG ratio of 1.99 at yesterday's closing price.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 45, putting it in the top 19% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.