Marvell Technology (MRVL - Free Report) closed at $27.04 in the latest trading session, marking a +0.9% move from the prior day. This change outpaced the S&P 500's 0.12% loss on the day. Elsewhere, the Dow gained 0.11%, while the tech-heavy Nasdaq added 0.02%.
Coming into today, shares of the chipmaker had gained 9.3% in the past month. In that same time, the Computer and Technology sector gained 5.66%, while the S&P 500 gained 4.42%.
Wall Street will be looking for positivity from MRVL as it approaches its next earnings report date. The company is expected to report EPS of $0.17, down 48.48% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $660.23 million, down 22.42% from the year-ago period.
MRVL's full-year Zacks Consensus Estimates are calling for earnings of $0.70 per share and revenue of $2.68 billion. These results would represent year-over-year changes of -41.18% and -6.41%, respectively.
Investors might also notice recent changes to analyst estimates for MRVL. Recent revisions tend to reflect the latest near-term business trends. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.45% lower. MRVL is currently a Zacks Rank #3 (Hold).
Investors should also note MRVL's current valuation metrics, including its Forward P/E ratio of 38.47. This represents a premium compared to its industry's average Forward P/E of 29.81.
Investors should also note that MRVL has a PEG ratio of 6.21 right now. 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 5.32 as of yesterday's close.
The Semiconductor - Communications industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 61, putting it in the top 24% 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.