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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 $62.94, marking a -1.3% move from the previous day. This move lagged the S&P 500's daily loss of 0.06%. Elsewhere, the Dow gained 0.72%, while the tech-heavy Nasdaq added 0.47%.
Prior to today's trading, shares of the chipmaker had lost 10.66% over the past month. This has lagged the Business Services sector's loss of 2.12% and the S&P 500's gain of 0.17% in that time.
Marvell Technology will be looking to display strength as it nears its next earnings release. On that day, Marvell Technology is projected to report earnings of $0.51 per share, which would represent year-over-year growth of 75.86%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.43 billion, up 71.42% from the year-ago period.
MRVL's full-year Zacks Consensus Estimates are calling for earnings of $2.23 per share and revenue of $6.15 billion. These results would represent year-over-year changes of +42.04% and +37.73%, respectively.
Any recent changes to analyst estimates for Marvell Technology should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.25% higher. Marvell Technology is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Marvell Technology has a Forward P/E ratio of 28.62 right now. This valuation marks a premium compared to its industry's average Forward P/E of 21.12.
We can also see that MRVL currently has a PEG ratio of 1.63. 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. The Technology Services was holding an average PEG ratio of 2.25 at yesterday's closing price.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 176, putting it in the bottom 31% 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.
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
In the latest trading session, Marvell Technology (MRVL - Free Report) closed at $62.94, marking a -1.3% move from the previous day. This move lagged the S&P 500's daily loss of 0.06%. Elsewhere, the Dow gained 0.72%, while the tech-heavy Nasdaq added 0.47%.
Prior to today's trading, shares of the chipmaker had lost 10.66% over the past month. This has lagged the Business Services sector's loss of 2.12% and the S&P 500's gain of 0.17% in that time.
Marvell Technology will be looking to display strength as it nears its next earnings release. On that day, Marvell Technology is projected to report earnings of $0.51 per share, which would represent year-over-year growth of 75.86%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.43 billion, up 71.42% from the year-ago period.
MRVL's full-year Zacks Consensus Estimates are calling for earnings of $2.23 per share and revenue of $6.15 billion. These results would represent year-over-year changes of +42.04% and +37.73%, respectively.
Any recent changes to analyst estimates for Marvell Technology should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.25% higher. Marvell Technology is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Marvell Technology has a Forward P/E ratio of 28.62 right now. This valuation marks a premium compared to its industry's average Forward P/E of 21.12.
We can also see that MRVL currently has a PEG ratio of 1.63. 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. The Technology Services was holding an average PEG ratio of 2.25 at yesterday's closing price.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 176, putting it in the bottom 31% 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.
To follow MRVL in the coming trading sessions, be sure to utilize Zacks.com.