In the latest trading session, Marvell Technology (MRVL - Free Report) closed at $26.95, marking a -0.44% move from the previous day. This change lagged the S&P 500's 0.2% loss on the day. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq lost 0.13%.
Heading into today, shares of the chipmaker had gained 16.23% over the past month, outpacing the Computer and Technology sector's gain of 8.71% and the S&P 500's gain of 7.08% in that time.
MRVL will be looking to display strength as it nears its next earnings release, which is expected to be December 3, 2019. The company is expected to report EPS of $0.17, down 48.48% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $660.23 million, down 22.42% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.70 per share and revenue of $2.68 billion, which would represent changes of -41.18% and -6.41%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for MRVL. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.45% lower. MRVL is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, MRVL is currently trading at a Forward P/E ratio of 38.86. Its industry sports an average Forward P/E of 38.86, so we one might conclude that MRVL is trading at a no noticeable deviation comparatively.
We can also see that MRVL currently has a PEG ratio of 6.27. 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 Semiconductor - Communications was holding an average PEG ratio of 6.27 at yesterday's closing price.
The Semiconductor - Communications industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 57, putting it in the top 23% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MRVL in the coming trading sessions, be sure to utilize Zacks.com.