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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 $43.30, moving +0.12% from the previous trading session. This move lagged the S&P 500's daily gain of 1.44%. At the same time, the Dow added 1.26%, and the tech-heavy Nasdaq gained 5.21%.
Heading into today, shares of the chipmaker had lost 6.45% over the past month, lagging the Business Services sector's gain of 0.14% and the S&P 500's gain of 2.28% in that time.
Investors will be hoping for strength from Marvell Technology as it approaches its next earnings release. In that report, analysts expect Marvell Technology to post earnings of $0.30 per share. This would mark a year-over-year decline of 42.31%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.3 billion, down 10.09% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.52 per share and revenue of $5.49 billion, which would represent changes of -28.3% and -7.33%, respectively, from the prior year.
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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 34.12% lower. Marvell Technology is currently sporting a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Marvell Technology is currently trading at a Forward P/E ratio of 28.4. This represents a premium compared to its industry's average Forward P/E of 22.22.
Meanwhile, MRVL's PEG ratio is currently 8.48. 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 1.98 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 99, putting it in the top 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.
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 But Lags Market: What You Should Know
Marvell Technology (MRVL - Free Report) closed the most recent trading day at $43.30, moving +0.12% from the previous trading session. This move lagged the S&P 500's daily gain of 1.44%. At the same time, the Dow added 1.26%, and the tech-heavy Nasdaq gained 5.21%.
Heading into today, shares of the chipmaker had lost 6.45% over the past month, lagging the Business Services sector's gain of 0.14% and the S&P 500's gain of 2.28% in that time.
Investors will be hoping for strength from Marvell Technology as it approaches its next earnings release. In that report, analysts expect Marvell Technology to post earnings of $0.30 per share. This would mark a year-over-year decline of 42.31%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.3 billion, down 10.09% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.52 per share and revenue of $5.49 billion, which would represent changes of -28.3% and -7.33%, respectively, from the prior year.
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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 34.12% lower. Marvell Technology is currently sporting a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Marvell Technology is currently trading at a Forward P/E ratio of 28.4. This represents a premium compared to its industry's average Forward P/E of 22.22.
Meanwhile, MRVL's PEG ratio is currently 8.48. 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 1.98 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 99, putting it in the top 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.