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Marvell Technology (MRVL) Suffers a Larger Drop Than the General Market: Key Insights
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Marvell Technology (MRVL - Free Report) ended the recent trading session at $153.25, demonstrating a -3.14% change from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 0.49%. Meanwhile, the Dow lost 0.05%, and the Nasdaq, a tech-heavy index, lost 0.9%.
The chipmaker's stock has climbed by 80.17% in the past month, exceeding the Computer and Technology sector's gain of 21.92% and the S&P 500's gain of 12.8%.
Market participants will be closely following the financial results of Marvell Technology in its upcoming release. The company is expected to report EPS of $0.8, up 29.03% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $2.4 billion, indicating a 26.82% growth compared to the corresponding quarter of the prior year.
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.
Investors might also notice recent changes to analyst estimates for Marvell Technology. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, 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. The Zacks Consensus EPS estimate has moved 0.23% higher within the past month. Marvell Technology is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, Marvell Technology is presently trading at a Forward P/E ratio of 41.51. Its industry sports an average Forward P/E of 46.84, so one might conclude that Marvell Technology is trading at a discount comparatively.
Meanwhile, MRVL's PEG ratio is currently 1.14. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Electronics - Semiconductors industry had an average PEG ratio of 2.16.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 94, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Marvell Technology (MRVL) Suffers a Larger Drop Than the General Market: Key Insights
Marvell Technology (MRVL - Free Report) ended the recent trading session at $153.25, demonstrating a -3.14% change from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 0.49%. Meanwhile, the Dow lost 0.05%, and the Nasdaq, a tech-heavy index, lost 0.9%.
The chipmaker's stock has climbed by 80.17% in the past month, exceeding the Computer and Technology sector's gain of 21.92% and the S&P 500's gain of 12.8%.
Market participants will be closely following the financial results of Marvell Technology in its upcoming release. The company is expected to report EPS of $0.8, up 29.03% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $2.4 billion, indicating a 26.82% growth compared to the corresponding quarter of the prior year.
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.
Investors might also notice recent changes to analyst estimates for Marvell Technology. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, 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. The Zacks Consensus EPS estimate has moved 0.23% higher within the past month. Marvell Technology is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, Marvell Technology is presently trading at a Forward P/E ratio of 41.51. Its industry sports an average Forward P/E of 46.84, so one might conclude that Marvell Technology is trading at a discount comparatively.
Meanwhile, MRVL's PEG ratio is currently 1.14. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Electronics - Semiconductors industry had an average PEG ratio of 2.16.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 94, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.