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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 the most recent trading day at $45.53, moving +0.73% from the previous trading session. This change outpaced the S&P 500's 0.92% loss on the day. Elsewhere, the Dow lost 0.62%, while the tech-heavy Nasdaq added 0.05%.
Coming into today, shares of the chipmaker had lost 7.4% in the past month. In that same time, the Business Services sector lost 1.18%, while the S&P 500 lost 1%.
Marvell Technology will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.56, up 64.71% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.51 billion, up 40.78% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.33 per share and revenue of $6.19 billion. These totals would mark changes of +48.41% and +38.61%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Marvell Technology. These revisions help to show the ever-changing nature of 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. 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, 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. Marvell Technology currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Marvell Technology currently has a Forward P/E ratio of 19.42. This represents a discount compared to its industry's average Forward P/E of 20.13.
It is also worth noting that MRVL currently has a PEG ratio of 1.27. 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 1.99 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 153, putting it in the bottom 40% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Marvell Technology (MRVL) Gains As Market Dips: What You Should Know
Marvell Technology (MRVL - Free Report) closed the most recent trading day at $45.53, moving +0.73% from the previous trading session. This change outpaced the S&P 500's 0.92% loss on the day. Elsewhere, the Dow lost 0.62%, while the tech-heavy Nasdaq added 0.05%.
Coming into today, shares of the chipmaker had lost 7.4% in the past month. In that same time, the Business Services sector lost 1.18%, while the S&P 500 lost 1%.
Marvell Technology will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.56, up 64.71% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.51 billion, up 40.78% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.33 per share and revenue of $6.19 billion. These totals would mark changes of +48.41% and +38.61%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Marvell Technology. These revisions help to show the ever-changing nature of 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. 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, 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. Marvell Technology currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Marvell Technology currently has a Forward P/E ratio of 19.42. This represents a discount compared to its industry's average Forward P/E of 20.13.
It is also worth noting that MRVL currently has a PEG ratio of 1.27. 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 1.99 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 153, putting it in the bottom 40% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.