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Marvell Technology (MRVL) Gains As Market Dips: What You Should Know
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Marvell Technology (MRVL - Free Report) closed at $71.57 in the latest trading session, marking a +0.66% move from the prior day. This change outpaced the S&P 500's 0.37% loss on the day.
Heading into today, shares of the chipmaker had lost 14.45% over the past month, lagging the Business Services sector's loss of 9.22% and the S&P 500's loss of 6.01% in that time.
Investors will be hoping for strength from Marvell Technology as it approaches its next earnings release, which is expected to be March 3, 2022. On that day, Marvell Technology is projected to report earnings of $0.48 per share, which would represent year-over-year growth of 65.52%. Our most recent consensus estimate is calling for quarterly revenue of $1.32 billion, up 65.61% from the year-ago period.
Any recent changes to analyst estimates for Marvell Technology should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Marvell Technology is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Marvell Technology is currently trading at a Forward P/E ratio of 32.22. Its industry sports an average Forward P/E of 22.54, so we one might conclude that Marvell Technology is trading at a premium comparatively.
Meanwhile, MRVL's PEG ratio is currently 1.33. 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 1.67 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 167, which puts it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Gains As Market Dips: What You Should Know
Marvell Technology (MRVL - Free Report) closed at $71.57 in the latest trading session, marking a +0.66% move from the prior day. This change outpaced the S&P 500's 0.37% loss on the day.
Heading into today, shares of the chipmaker had lost 14.45% over the past month, lagging the Business Services sector's loss of 9.22% and the S&P 500's loss of 6.01% in that time.
Investors will be hoping for strength from Marvell Technology as it approaches its next earnings release, which is expected to be March 3, 2022. On that day, Marvell Technology is projected to report earnings of $0.48 per share, which would represent year-over-year growth of 65.52%. Our most recent consensus estimate is calling for quarterly revenue of $1.32 billion, up 65.61% from the year-ago period.
Any recent changes to analyst estimates for Marvell Technology should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Marvell Technology is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Marvell Technology is currently trading at a Forward P/E ratio of 32.22. Its industry sports an average Forward P/E of 22.54, so we one might conclude that Marvell Technology is trading at a premium comparatively.
Meanwhile, MRVL's PEG ratio is currently 1.33. 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 1.67 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 167, which puts it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.