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Marvell Technology (MRVL) Gains As Market Dips: What You Should Know
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In the latest trading session, Marvell Technology (MRVL - Free Report) closed at $39.74, marking a +0.15% move from the previous day. This change outpaced the S&P 500's 0.41% loss on the day. Elsewhere, the Dow lost 0.24%, while the tech-heavy Nasdaq lost 0.09%.
Prior to today's trading, shares of the chipmaker had lost 10.83% over the past month. This has lagged the Business Services sector's gain of 8.46% and the S&P 500's gain of 8.12% in that time.
Wall Street will be looking for positivity from Marvell Technology as it approaches its next earnings report date. On that day, Marvell Technology is projected to report earnings of $0.57 per share, which would represent year-over-year growth of 32.56%. Meanwhile, our latest consensus estimate is calling for revenue of $1.56 billion, up 28.74% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.24 per share and revenue of $6.14 billion. These totals would mark changes of +42.68% and +37.68%, respectively, from last year.
Any recent changes to analyst estimates for Marvell Technology should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. Within the past 30 days, our consensus EPS projection has moved 0.38% lower. Marvell Technology is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Marvell Technology has a Forward P/E ratio of 17.69 right now. This represents a discount compared to its industry's average Forward P/E of 22.11.
Also, we should mention that MRVL has a PEG ratio of 1.3. 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 2.13 at yesterday's closing price.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 146, which puts it in the bottom 43% 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) Gains As Market Dips: What You Should Know
In the latest trading session, Marvell Technology (MRVL - Free Report) closed at $39.74, marking a +0.15% move from the previous day. This change outpaced the S&P 500's 0.41% loss on the day. Elsewhere, the Dow lost 0.24%, while the tech-heavy Nasdaq lost 0.09%.
Prior to today's trading, shares of the chipmaker had lost 10.83% over the past month. This has lagged the Business Services sector's gain of 8.46% and the S&P 500's gain of 8.12% in that time.
Wall Street will be looking for positivity from Marvell Technology as it approaches its next earnings report date. On that day, Marvell Technology is projected to report earnings of $0.57 per share, which would represent year-over-year growth of 32.56%. Meanwhile, our latest consensus estimate is calling for revenue of $1.56 billion, up 28.74% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.24 per share and revenue of $6.14 billion. These totals would mark changes of +42.68% and +37.68%, respectively, from last year.
Any recent changes to analyst estimates for Marvell Technology should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. Within the past 30 days, our consensus EPS projection has moved 0.38% lower. Marvell Technology is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Marvell Technology has a Forward P/E ratio of 17.69 right now. This represents a discount compared to its industry's average Forward P/E of 22.11.
Also, we should mention that MRVL has a PEG ratio of 1.3. 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 2.13 at yesterday's closing price.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 146, which puts it in the bottom 43% 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.