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Marvell Technology (MRVL) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Marvell Technology (MRVL - Free Report) closed at $50.59, marking a -1.29% move from the previous day. This change lagged the S&P 500's daily loss of 0.04%. Elsewhere, the Dow gained 0.2%, while the tech-heavy Nasdaq lost 0.25%.
Prior to today's trading, shares of the chipmaker had gained 2.71% over the past month. This has lagged the Computer and Technology sector's gain of 7.76% and outpaced the S&P 500's gain of 2.37% in that time.
Investors will be hoping for strength from MRVL as it approaches its next earnings release, which is expected to be March 3, 2021. In that report, analysts expect MRVL to post earnings of $0.29 per share. This would mark year-over-year growth of 70.59%. Meanwhile, our latest consensus estimate is calling for revenue of $786.17 million, up 9.55% from the prior-year quarter.
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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. MRVL is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, MRVL is holding a Forward P/E ratio of 38.01. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 38.01.
We can also see that MRVL currently has a PEG ratio of 1.95. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. MRVL's industry had an average PEG ratio of 3.34 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 19, which puts it in the top 8% 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.
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Marvell Technology (MRVL) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Marvell Technology (MRVL - Free Report) closed at $50.59, marking a -1.29% move from the previous day. This change lagged the S&P 500's daily loss of 0.04%. Elsewhere, the Dow gained 0.2%, while the tech-heavy Nasdaq lost 0.25%.
Prior to today's trading, shares of the chipmaker had gained 2.71% over the past month. This has lagged the Computer and Technology sector's gain of 7.76% and outpaced the S&P 500's gain of 2.37% in that time.
Investors will be hoping for strength from MRVL as it approaches its next earnings release, which is expected to be March 3, 2021. In that report, analysts expect MRVL to post earnings of $0.29 per share. This would mark year-over-year growth of 70.59%. Meanwhile, our latest consensus estimate is calling for revenue of $786.17 million, up 9.55% from the prior-year quarter.
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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. MRVL is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, MRVL is holding a Forward P/E ratio of 38.01. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 38.01.
We can also see that MRVL currently has a PEG ratio of 1.95. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. MRVL's industry had an average PEG ratio of 3.34 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 19, which puts it in the top 8% 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.