We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Marvell Technology (MRVL) Stock Drops Despite Market Gains: Important Facts to Note
Read MoreHide Full Article
Marvell Technology (MRVL - Free Report) closed the latest trading day at $51.24, indicating a -0.23% change from the previous session's end. This change lagged the S&P 500's 0.18% gain on the day. Elsewhere, the Dow saw an upswing of 0.1%, while the tech-heavy Nasdaq appreciated by 0.3%.
Prior to today's trading, shares of the chipmaker had lost 5.81% over the past month. This has lagged the Business Services sector's gain of 2.75% and the S&P 500's gain of 3.08% in that time.
Market participants will be closely following the financial results of Marvell Technology in its upcoming release. The company plans to announce its earnings on November 30, 2023. The company's upcoming EPS is projected at $0.40, signifying a 29.82% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $1.4 billion, reflecting an 8.85% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $1.53 per share and a revenue of $5.52 billion, demonstrating changes of -27.83% and -6.67%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Marvell Technology. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.09% increase. As of now, Marvell Technology holds a Zacks Rank of #2 (Buy).
With respect to valuation, Marvell Technology is currently being traded at a Forward P/E ratio of 33.52. This represents a premium compared to its industry's average Forward P/E of 23.14.
It is also worth noting that MRVL currently has a PEG ratio of 3.67. 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 Technology Services industry had an average PEG ratio of 1.43 as trading concluded yesterday.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 85, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Marvell Technology (MRVL) Stock Drops Despite Market Gains: Important Facts to Note
Marvell Technology (MRVL - Free Report) closed the latest trading day at $51.24, indicating a -0.23% change from the previous session's end. This change lagged the S&P 500's 0.18% gain on the day. Elsewhere, the Dow saw an upswing of 0.1%, while the tech-heavy Nasdaq appreciated by 0.3%.
Prior to today's trading, shares of the chipmaker had lost 5.81% over the past month. This has lagged the Business Services sector's gain of 2.75% and the S&P 500's gain of 3.08% in that time.
Market participants will be closely following the financial results of Marvell Technology in its upcoming release. The company plans to announce its earnings on November 30, 2023. The company's upcoming EPS is projected at $0.40, signifying a 29.82% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $1.4 billion, reflecting an 8.85% fall from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $1.53 per share and a revenue of $5.52 billion, demonstrating changes of -27.83% and -6.67%, respectively, from the preceding year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Marvell Technology. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.09% increase. As of now, Marvell Technology holds a Zacks Rank of #2 (Buy).
With respect to valuation, Marvell Technology is currently being traded at a Forward P/E ratio of 33.52. This represents a premium compared to its industry's average Forward P/E of 23.14.
It is also worth noting that MRVL currently has a PEG ratio of 3.67. 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 Technology Services industry had an average PEG ratio of 1.43 as trading concluded yesterday.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 85, putting it in the top 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.