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Marvell Technology (MRVL) Gains As Market Dips: What You Should Know
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Marvell Technology (MRVL - Free Report) ended the recent trading session at $151.31, demonstrating a +2.35% change from the preceding day's closing price. The stock's change was more than the S&P 500's daily loss of 0.64%. Meanwhile, the Dow lost 0.59%, and the Nasdaq, a tech-heavy index, lost 0.59%.
Heading into today, shares of the chipmaker had gained 63.97% over the past month, outpacing the Computer and Technology sector's gain of 13.17% and the S&P 500's gain of 9.33%.
Investors will be eagerly watching for the performance of Marvell Technology in its upcoming earnings disclosure. On that day, Marvell Technology is projected to report earnings of $0.8 per share, which would represent year-over-year growth of 29.03%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.4 billion, up 26.82% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.81 per share and a revenue of $10.84 billion, representing changes of +34.15% and +32.25%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Marvell Technology. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.23% increase. Right now, Marvell Technology possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Marvell Technology is at present trading with a Forward P/E ratio of 38.79. This signifies a discount in comparison to the average Forward P/E of 43.24 for its industry.
One should further note that MRVL currently holds a PEG ratio of 1.07. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Electronics - Semiconductors industry held an average PEG ratio of 2.53.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 90, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Marvell Technology (MRVL) Gains As Market Dips: What You Should Know
Marvell Technology (MRVL - Free Report) ended the recent trading session at $151.31, demonstrating a +2.35% change from the preceding day's closing price. The stock's change was more than the S&P 500's daily loss of 0.64%. Meanwhile, the Dow lost 0.59%, and the Nasdaq, a tech-heavy index, lost 0.59%.
Heading into today, shares of the chipmaker had gained 63.97% over the past month, outpacing the Computer and Technology sector's gain of 13.17% and the S&P 500's gain of 9.33%.
Investors will be eagerly watching for the performance of Marvell Technology in its upcoming earnings disclosure. On that day, Marvell Technology is projected to report earnings of $0.8 per share, which would represent year-over-year growth of 29.03%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.4 billion, up 26.82% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.81 per share and a revenue of $10.84 billion, representing changes of +34.15% and +32.25%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Marvell Technology. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.23% increase. Right now, Marvell Technology possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Marvell Technology is at present trading with a Forward P/E ratio of 38.79. This signifies a discount in comparison to the average Forward P/E of 43.24 for its industry.
One should further note that MRVL currently holds a PEG ratio of 1.07. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Electronics - Semiconductors industry held an average PEG ratio of 2.53.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 90, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.