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Marvell Technology (MRVL) Rises But Trails Market: What Investors Should Know
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Marvell Technology (MRVL - Free Report) closed the latest trading day at $81.93, indicating a +0.12% change from the previous session's end. This move lagged the S&P 500's daily gain of 0.22%. Meanwhile, the Dow experienced a drop of 0.33%, and the technology-dominated Nasdaq saw an increase of 0.76%.
The chipmaker's stock has climbed by 14.96% in the past month, exceeding the Business Services sector's gain of 1.72% and the S&P 500's gain of 1.47%.
Investors will be eagerly watching for the performance of Marvell Technology in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.40, signifying a 2.44% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $1.45 billion, indicating a 2.47% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $1.46 per share and a revenue of $5.52 billion, demonstrating changes of -3.31% and +0.27%, 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 typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Marvell Technology currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Marvell Technology has a Forward P/E ratio of 56.2 right now. This expresses a premium compared to the average Forward P/E of 24.15 of its industry.
We can additionally observe that MRVL currently boasts a PEG ratio of 1.9. 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 1.47 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 66, putting it in the top 27% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. 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.
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Marvell Technology (MRVL) Rises But Trails Market: What Investors Should Know
Marvell Technology (MRVL - Free Report) closed the latest trading day at $81.93, indicating a +0.12% change from the previous session's end. This move lagged the S&P 500's daily gain of 0.22%. Meanwhile, the Dow experienced a drop of 0.33%, and the technology-dominated Nasdaq saw an increase of 0.76%.
The chipmaker's stock has climbed by 14.96% in the past month, exceeding the Business Services sector's gain of 1.72% and the S&P 500's gain of 1.47%.
Investors will be eagerly watching for the performance of Marvell Technology in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.40, signifying a 2.44% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $1.45 billion, indicating a 2.47% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $1.46 per share and a revenue of $5.52 billion, demonstrating changes of -3.31% and +0.27%, 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 typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Marvell Technology currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Marvell Technology has a Forward P/E ratio of 56.2 right now. This expresses a premium compared to the average Forward P/E of 24.15 of its industry.
We can additionally observe that MRVL currently boasts a PEG ratio of 1.9. 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 1.47 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 66, putting it in the top 27% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. 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.