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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 $58.52, moving -1.08% from the previous trading session. This change lagged the S&P 500's daily loss of 0.71%.
Coming into today, shares of the chipmaker had gained 7.96% in the past month. In that same time, the Business Services sector lost 1.69%, while the S&P 500 gained 3.63%.
Investors will be hoping for strength from MRVL as it approaches its next earnings release, which is expected to be August 26, 2021. On that day, MRVL is projected to report earnings of $0.31 per share, which would represent 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.
MRVL's full-year Zacks Consensus Estimates are calling for earnings of $1.41 per share and revenue of $4.24 billion. These results would represent year-over-year changes of +53.26% and +42.9%, respectively.
Investors might also notice recent changes to analyst estimates for MRVL. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, MRVL is currently trading at a Forward P/E ratio of 42.11. This valuation marks a premium compared to its industry's average Forward P/E of 32.15.
Also, we should mention that MRVL has a PEG ratio of 2.05. 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. MRVL's industry had an average PEG ratio of 2.25 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 221, putting it in the bottom 13% 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.
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
Marvell Technology (MRVL - Free Report) closed the most recent trading day at $58.52, moving -1.08% from the previous trading session. This change lagged the S&P 500's daily loss of 0.71%.
Coming into today, shares of the chipmaker had gained 7.96% in the past month. In that same time, the Business Services sector lost 1.69%, while the S&P 500 gained 3.63%.
Investors will be hoping for strength from MRVL as it approaches its next earnings release, which is expected to be August 26, 2021. On that day, MRVL is projected to report earnings of $0.31 per share, which would represent 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.
MRVL's full-year Zacks Consensus Estimates are calling for earnings of $1.41 per share and revenue of $4.24 billion. These results would represent year-over-year changes of +53.26% and +42.9%, respectively.
Investors might also notice recent changes to analyst estimates for MRVL. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, MRVL is currently trading at a Forward P/E ratio of 42.11. This valuation marks a premium compared to its industry's average Forward P/E of 32.15.
Also, we should mention that MRVL has a PEG ratio of 2.05. 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. MRVL's industry had an average PEG ratio of 2.25 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 221, putting it in the bottom 13% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.