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Marvell Technology (MRVL) Exceeds Market Returns: Some Facts to Consider
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In the latest trading session, Marvell Technology (MRVL - Free Report) closed at $249.30, marking a +1.63% move from the previous day. The stock's change was more than the S&P 500's daily gain of 0.72%. Elsewhere, the Dow saw an upswing of 0.3%, while the tech-heavy Nasdaq appreciated by 1.12%.
Shares of the chipmaker witnessed a loss of 6.9% over the previous month, trailing the performance of the Computer and Technology sector with its loss of 6.12%, and the S&P 500's loss of 0.9%.
Market participants will be closely following the financial results of Marvell Technology in its upcoming release. The company is predicted to post an EPS of $0.93, indicating a 38.81% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $2.71 billion, indicating a 35.1% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.04 per share and a revenue of $11.54 billion, representing changes of +42.25% and +40.88%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Marvell Technology. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.17% lower. Marvell Technology presently features a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Marvell Technology has a Forward P/E ratio of 60.66 right now. Its industry sports an average Forward P/E of 49.81, so one might conclude that Marvell Technology is trading at a premium comparatively.
It's also important to note that MRVL currently trades at a PEG ratio of 1.22. 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 the market closed yesterday, the Electronics - Semiconductors industry was having an average PEG ratio of 1.87.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 52, positioning it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks 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.
View the Zacks #1 Rank List
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Marvell Technology (MRVL) Exceeds Market Returns: Some Facts to Consider
In the latest trading session, Marvell Technology (MRVL - Free Report) closed at $249.30, marking a +1.63% move from the previous day. The stock's change was more than the S&P 500's daily gain of 0.72%. Elsewhere, the Dow saw an upswing of 0.3%, while the tech-heavy Nasdaq appreciated by 1.12%.
Shares of the chipmaker witnessed a loss of 6.9% over the previous month, trailing the performance of the Computer and Technology sector with its loss of 6.12%, and the S&P 500's loss of 0.9%.
Market participants will be closely following the financial results of Marvell Technology in its upcoming release. The company is predicted to post an EPS of $0.93, indicating a 38.81% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $2.71 billion, indicating a 35.1% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.04 per share and a revenue of $11.54 billion, representing changes of +42.25% and +40.88%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Marvell Technology. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.17% lower. Marvell Technology presently features a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Marvell Technology has a Forward P/E ratio of 60.66 right now. Its industry sports an average Forward P/E of 49.81, so one might conclude that Marvell Technology is trading at a premium comparatively.
It's also important to note that MRVL currently trades at a PEG ratio of 1.22. 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 the market closed yesterday, the Electronics - Semiconductors industry was having an average PEG ratio of 1.87.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 52, positioning it in the top 22% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks 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.