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Marvell Technology (MRVL) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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Marvell Technology (MRVL - Free Report) closed the most recent trading day at $218.34, moving -13.24% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.31% for the day. Meanwhile, the Dow experienced a drop of 0.25%, and the technology-dominated Nasdaq saw a decrease of 1.38%.
Prior to today's trading, shares of the chipmaker had lost 4.75% lagged the Computer and Technology sector's loss of 3.14% and the S&P 500's gain of 0.87%.
Analysts and investors alike will be keeping a close eye on the performance of Marvell Technology in its upcoming earnings disclosure. On that day, Marvell Technology is projected to report earnings of $1.1 per share, which would represent year-over-year growth of 44.74%. Meanwhile, the latest consensus estimate predicts the revenue to be $3.16 billion, indicating a 52.17% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.21 per share and a revenue of $12.05 billion, indicating changes of +48.24% and +47.01%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Marvell Technology. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.18% higher. Marvell Technology presently features a Zacks Rank of #2 (Buy).
In terms of valuation, Marvell Technology is currently trading at a Forward P/E ratio of 59.72. This denotes a premium relative to the industry average Forward P/E of 33.74.
We can additionally observe that MRVL currently boasts a PEG ratio of 5.43. 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 industry had an average PEG ratio of 1.11 as trading concluded yesterday.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 98, which puts it in the top 40% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
View the Zacks #1 Rank List
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Marvell Technology (MRVL) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Marvell Technology (MRVL - Free Report) closed the most recent trading day at $218.34, moving -13.24% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.31% for the day. Meanwhile, the Dow experienced a drop of 0.25%, and the technology-dominated Nasdaq saw a decrease of 1.38%.
Prior to today's trading, shares of the chipmaker had lost 4.75% lagged the Computer and Technology sector's loss of 3.14% and the S&P 500's gain of 0.87%.
Analysts and investors alike will be keeping a close eye on the performance of Marvell Technology in its upcoming earnings disclosure. On that day, Marvell Technology is projected to report earnings of $1.1 per share, which would represent year-over-year growth of 44.74%. Meanwhile, the latest consensus estimate predicts the revenue to be $3.16 billion, indicating a 52.17% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.21 per share and a revenue of $12.05 billion, indicating changes of +48.24% and +47.01%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Marvell Technology. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.18% higher. Marvell Technology presently features a Zacks Rank of #2 (Buy).
In terms of valuation, Marvell Technology is currently trading at a Forward P/E ratio of 59.72. This denotes a premium relative to the industry average Forward P/E of 33.74.
We can additionally observe that MRVL currently boasts a PEG ratio of 5.43. 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 industry had an average PEG ratio of 1.11 as trading concluded yesterday.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 98, which puts it in the top 40% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.