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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 $42.97, moving +0.87% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.16%. At the same time, the Dow lost 0.26%, and the tech-heavy Nasdaq gained 1.58%.
Prior to today's trading, shares of the chipmaker had gained 0.21% over the past month. This has outpaced the Business Services sector's loss of 0.66% and lagged the S&P 500's gain of 0.84% in that time.
Marvell Technology will be looking to display strength as it nears its next earnings release, which is expected to be March 2, 2023. The company is expected to report EPS of $0.46, down 8% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.4 billion, up 4.26% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Marvell Technology. These revisions help to show the ever-changing nature of near-term business trends. 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. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Marvell Technology is currently a Zacks Rank #3 (Hold).
In terms of valuation, Marvell Technology is currently trading at a Forward P/E ratio of 21.12. This represents a discount compared to its industry's average Forward P/E of 21.71.
Investors should also note that MRVL has a PEG ratio of 1.94 right now. 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. MRVL's industry had an average PEG ratio of 2.31 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 145, which puts it in the bottom 43% 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.
Be sure to follow all of these stock-moving metrics, and many 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 $42.97, moving +0.87% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.16%. At the same time, the Dow lost 0.26%, and the tech-heavy Nasdaq gained 1.58%.
Prior to today's trading, shares of the chipmaker had gained 0.21% over the past month. This has outpaced the Business Services sector's loss of 0.66% and lagged the S&P 500's gain of 0.84% in that time.
Marvell Technology will be looking to display strength as it nears its next earnings release, which is expected to be March 2, 2023. The company is expected to report EPS of $0.46, down 8% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.4 billion, up 4.26% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Marvell Technology. These revisions help to show the ever-changing nature of near-term business trends. 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. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Marvell Technology is currently a Zacks Rank #3 (Hold).
In terms of valuation, Marvell Technology is currently trading at a Forward P/E ratio of 21.12. This represents a discount compared to its industry's average Forward P/E of 21.71.
Investors should also note that MRVL has a PEG ratio of 1.94 right now. 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. MRVL's industry had an average PEG ratio of 2.31 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 145, which puts it in the bottom 43% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.