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Marvell Technology (MRVL) Stock Declines While Market Improves: Some Information for Investors
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In the latest trading session, Marvell Technology (MRVL - Free Report) closed at $194.29, marking a -7.18% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.05%. On the other hand, the Dow registered a gain of 0.46%, and the technology-centric Nasdaq decreased by 0.64%.
Prior to today's trading, shares of the chipmaker had lost 25.58% lagged the Computer and Technology sector's loss of 3.62% and the S&P 500's gain of 0.61%.
Market participants will be closely following the financial results of Marvell Technology in its upcoming release. The company's earnings per share (EPS) are projected to be $0.93, reflecting a 38.81% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $2.71 billion, showing a 35.15% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $4.04 per share and revenue of $11.55 billion, which would represent changes of +42.25% and +40.91%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Marvell Technology. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.13% decrease. Marvell Technology currently has a Zacks Rank of #3 (Hold).
Looking at valuation, Marvell Technology is presently trading at a Forward P/E ratio of 51.79. This expresses a premium compared to the average Forward P/E of 46.38 of its industry.
We can also see that MRVL currently has a PEG ratio of 0.99. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Electronics - Semiconductors industry had an average PEG ratio of 1.74 as trading concluded yesterday.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 57, putting it in the top 24% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
View the Zacks #1 Rank List
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Marvell Technology (MRVL) Stock Declines While Market Improves: Some Information for Investors
In the latest trading session, Marvell Technology (MRVL - Free Report) closed at $194.29, marking a -7.18% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.05%. On the other hand, the Dow registered a gain of 0.46%, and the technology-centric Nasdaq decreased by 0.64%.
Prior to today's trading, shares of the chipmaker had lost 25.58% lagged the Computer and Technology sector's loss of 3.62% and the S&P 500's gain of 0.61%.
Market participants will be closely following the financial results of Marvell Technology in its upcoming release. The company's earnings per share (EPS) are projected to be $0.93, reflecting a 38.81% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $2.71 billion, showing a 35.15% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $4.04 per share and revenue of $11.55 billion, which would represent changes of +42.25% and +40.91%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Marvell Technology. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.13% decrease. Marvell Technology currently has a Zacks Rank of #3 (Hold).
Looking at valuation, Marvell Technology is presently trading at a Forward P/E ratio of 51.79. This expresses a premium compared to the average Forward P/E of 46.38 of its industry.
We can also see that MRVL currently has a PEG ratio of 0.99. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Electronics - Semiconductors industry had an average PEG ratio of 1.74 as trading concluded yesterday.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 57, putting it in the top 24% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.