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Marvell Technology (MRVL) Dips More Than Broader Markets: What You Should Know
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Marvell Technology (MRVL - Free Report) closed the most recent trading day at $60.48, moving -0.1% from the previous trading session. This move lagged the S&P 500's daily loss of 0.09%.
Heading into today, shares of the chipmaker had gained 6.21% over the past month, outpacing the Business Services sector's loss of 1.71% and the S&P 500's gain of 2.28% in that time.
Wall Street will be looking for positivity from MRVL as it approaches its next earnings report date. This is expected to be August 26, 2021. In that report, analysts expect MRVL to post earnings of $0.31 per share. This would mark year-over-year growth of 47.62%. Our most recent consensus estimate is calling for quarterly revenue of $1.07 billion, up 46.49% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.41 per share and revenue of $4.24 billion, which would represent changes of +53.26% and +42.9%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for MRVL. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. MRVL currently has a Zacks Rank of #4 (Sell).
Looking at its valuation, MRVL is holding a Forward P/E ratio of 43.09. This represents a premium compared to its industry's average Forward P/E of 32.34.
Also, we should mention that MRVL has a PEG ratio of 2.1. 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. The Technology Services industry currently had an average PEG ratio of 2.44 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 182, which puts it in the bottom 29% 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.
To follow MRVL in the coming trading sessions, be sure to utilize Zacks.com.
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Marvell Technology (MRVL) Dips More Than Broader Markets: What You Should Know
Marvell Technology (MRVL - Free Report) closed the most recent trading day at $60.48, moving -0.1% from the previous trading session. This move lagged the S&P 500's daily loss of 0.09%.
Heading into today, shares of the chipmaker had gained 6.21% over the past month, outpacing the Business Services sector's loss of 1.71% and the S&P 500's gain of 2.28% in that time.
Wall Street will be looking for positivity from MRVL as it approaches its next earnings report date. This is expected to be August 26, 2021. In that report, analysts expect MRVL to post earnings of $0.31 per share. This would mark year-over-year growth of 47.62%. Our most recent consensus estimate is calling for quarterly revenue of $1.07 billion, up 46.49% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.41 per share and revenue of $4.24 billion, which would represent changes of +53.26% and +42.9%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for MRVL. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. MRVL currently has a Zacks Rank of #4 (Sell).
Looking at its valuation, MRVL is holding a Forward P/E ratio of 43.09. This represents a premium compared to its industry's average Forward P/E of 32.34.
Also, we should mention that MRVL has a PEG ratio of 2.1. 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. The Technology Services industry currently had an average PEG ratio of 2.44 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 182, which puts it in the bottom 29% 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.
To follow MRVL in the coming trading sessions, be sure to utilize Zacks.com.