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Marvell Technology (MRVL) Outpaces Stock Market Gains: What You Should Know
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Marvell Technology (MRVL - Free Report) closed at $39.51 in the latest trading session, marking a +1.39% move from the prior day. This move outpaced the S&P 500's daily gain of 0.96%. At the same time, the Dow added 1.31%, and the tech-heavy Nasdaq lost 0.14%.
Heading into today, shares of the chipmaker had lost 7.98% over the past month, lagging the Business Services sector's loss of 2.98% and the S&P 500's loss of 0.41% in that time.
Investors will be hoping for strength from Marvell Technology as it approaches its next earnings release, which is expected to be December 1, 2022. On that day, Marvell Technology is projected to report earnings of $0.59 per share, which would represent year-over-year growth of 37.21%. Our most recent consensus estimate is calling for quarterly revenue of $1.56 billion, up 28.74% from the year-ago period.
MRVL's full-year Zacks Consensus Estimates are calling for earnings of $2.24 per share and revenue of $6.14 billion. These results would represent year-over-year changes of +42.68% and +37.68%, respectively.
Investors should also note any recent changes to analyst estimates for Marvell Technology. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 has moved 0.38% lower within the past month. Marvell Technology is currently a Zacks Rank #3 (Hold).
Digging into valuation, Marvell Technology currently has a Forward P/E ratio of 17.37. Its industry sports an average Forward P/E of 22.23, so we one might conclude that Marvell Technology is trading at a discount comparatively.
We can also see 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 128, putting it in the top 50% 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.
To follow MRVL in the coming trading sessions, be sure to utilize Zacks.com.
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Marvell Technology (MRVL) Outpaces Stock Market Gains: What You Should Know
Marvell Technology (MRVL - Free Report) closed at $39.51 in the latest trading session, marking a +1.39% move from the prior day. This move outpaced the S&P 500's daily gain of 0.96%. At the same time, the Dow added 1.31%, and the tech-heavy Nasdaq lost 0.14%.
Heading into today, shares of the chipmaker had lost 7.98% over the past month, lagging the Business Services sector's loss of 2.98% and the S&P 500's loss of 0.41% in that time.
Investors will be hoping for strength from Marvell Technology as it approaches its next earnings release, which is expected to be December 1, 2022. On that day, Marvell Technology is projected to report earnings of $0.59 per share, which would represent year-over-year growth of 37.21%. Our most recent consensus estimate is calling for quarterly revenue of $1.56 billion, up 28.74% from the year-ago period.
MRVL's full-year Zacks Consensus Estimates are calling for earnings of $2.24 per share and revenue of $6.14 billion. These results would represent year-over-year changes of +42.68% and +37.68%, respectively.
Investors should also note any recent changes to analyst estimates for Marvell Technology. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 has moved 0.38% lower within the past month. Marvell Technology is currently a Zacks Rank #3 (Hold).
Digging into valuation, Marvell Technology currently has a Forward P/E ratio of 17.37. Its industry sports an average Forward P/E of 22.23, so we one might conclude that Marvell Technology is trading at a discount comparatively.
We can also see 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 128, putting it in the top 50% 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.
To follow MRVL in the coming trading sessions, be sure to utilize Zacks.com.