Marvell Technology (MRVL - Free Report) closed at $24.92 in the latest trading session, marking a -0.99% move from the prior day. This move lagged the S&P 500's daily loss of 0.79%. At the same time, the Dow lost 0.66%, and the tech-heavy Nasdaq lost 0.68%.
Prior to today's trading, shares of the chipmaker had lost 2.63% over the past month. This has lagged the Computer and Technology sector's loss of 1.41% and the S&P 500's loss of 1.62% in that time.
Wall Street will be looking for positivity from MRVL as it approaches its next earnings report date. This is expected to be August 29, 2019. The company is expected to report EPS of $0.15, down 46.43% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $649.78 million, down 2.33% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.79 per share and revenue of $2.76 billion. These totals would mark changes of -33.61% and -3.82%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for MRVL. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. MRVL is holding a Zacks Rank of #2 (Buy) right now.
Digging into valuation, MRVL currently has a Forward P/E ratio of 31.93. This valuation marks a premium compared to its industry's average Forward P/E of 26.4.
It is also worth noting that MRVL currently has a PEG ratio of 4.38. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. MRVL's industry had an average PEG ratio of 4.13 as of yesterday's close.
The Semiconductor - Communications industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 7, which puts it in the top 3% 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.