Marvell Technology (MRVL - Free Report) closed the most recent trading day at $23.10, making no change from the previous trading session. This change lagged the S&P 500's daily gain of 0.89%. Elsewhere, the Dow gained 0.84%, while the tech-heavy Nasdaq added 0.97%.
Heading into today, shares of the chipmaker had lost 7.12% over the past month, lagging the Computer and Technology sector's loss of 2.6% and the S&P 500's loss of 1.68% in that time.
MRVL will be looking to display strength as it nears its next earnings release, which is expected to be May 30, 2019. On that day, MRVL is projected to report earnings of $0.15 per share, which would represent a year-over-year decline of 53.13%. Our most recent consensus estimate is calling for quarterly revenue of $650.21 million, up 7.54% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.95 per share and revenue of $2.88 billion. These totals would mark changes of -20.17% and +0.45%, respectively, from last year.
Any recent changes to analyst estimates for MRVL should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.42% lower within the past month. MRVL is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that MRVL has a Forward P/E ratio of 24.39 right now. This valuation marks a premium compared to its industry's average Forward P/E of 20.96.
Investors should also note that MRVL has a PEG ratio of 2.78 right now. 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. Semiconductor - Communications stocks are, on average, holding a PEG ratio of 2.78 based on yesterday's closing prices.
The Semiconductor - Communications industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 11, putting it in the top 5% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.