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Marvell Technology (MRVL) Gains But Lags Market: What You Should Know
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Marvell Technology (MRVL - Free Report) closed the most recent trading day at $37.01, moving +0.24% from the previous trading session. This change lagged the S&P 500's 0.7% gain on the day. At the same time, the Dow added 0.56%, and the tech-heavy Nasdaq gained 7.5%.
Prior to today's trading, shares of the chipmaker had lost 13.29% over the past month. This has lagged the Business Services sector's gain of 0.77% and the S&P 500's loss of 0.94% in that time.
Wall Street will be looking for positivity from Marvell Technology as it approaches its next earnings report date. In that report, analysts expect Marvell Technology to post earnings of $0.46 per share. This would mark a year-over-year decline of 8%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.4 billion, up 4.26% from the year-ago period.
MRVL's full-year Zacks Consensus Estimates are calling for earnings of $2.12 per share and revenue of $5.9 billion. These results would represent year-over-year changes of +35.03% and +32.24%, respectively.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 0.46% lower within the past month. Marvell Technology currently has a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Marvell Technology is currently trading at a Forward P/E ratio of 17.39. This represents a discount compared to its industry's average Forward P/E of 20.16.
It is also worth noting that MRVL currently has a PEG ratio of 1.6. 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 industry currently had an average PEG ratio of 2.06 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 93, which puts it in the top 37% 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.
To follow MRVL in the coming trading sessions, be sure to utilize Zacks.com.
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Marvell Technology (MRVL) Gains But Lags Market: What You Should Know
Marvell Technology (MRVL - Free Report) closed the most recent trading day at $37.01, moving +0.24% from the previous trading session. This change lagged the S&P 500's 0.7% gain on the day. At the same time, the Dow added 0.56%, and the tech-heavy Nasdaq gained 7.5%.
Prior to today's trading, shares of the chipmaker had lost 13.29% over the past month. This has lagged the Business Services sector's gain of 0.77% and the S&P 500's loss of 0.94% in that time.
Wall Street will be looking for positivity from Marvell Technology as it approaches its next earnings report date. In that report, analysts expect Marvell Technology to post earnings of $0.46 per share. This would mark a year-over-year decline of 8%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.4 billion, up 4.26% from the year-ago period.
MRVL's full-year Zacks Consensus Estimates are calling for earnings of $2.12 per share and revenue of $5.9 billion. These results would represent year-over-year changes of +35.03% and +32.24%, respectively.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 0.46% lower within the past month. Marvell Technology currently has a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Marvell Technology is currently trading at a Forward P/E ratio of 17.39. This represents a discount compared to its industry's average Forward P/E of 20.16.
It is also worth noting that MRVL currently has a PEG ratio of 1.6. 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 industry currently had an average PEG ratio of 2.06 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 93, which puts it in the top 37% 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.
To follow MRVL in the coming trading sessions, be sure to utilize Zacks.com.