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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 at $40.01 in the latest trading session, marking a +1.34% move from the prior day. This change outpaced the S&P 500's 0.04% loss on the day. Meanwhile, the Dow lost 0.14%, and the Nasdaq, a tech-heavy index, added 2.14%.
Coming into today, shares of the chipmaker had lost 8.82% in the past month. In that same time, the Business Services sector gained 1.06%, while the S&P 500 gained 5.1%.
Marvell Technology will be looking to display strength as it nears its next earnings release. On that day, Marvell Technology is projected to report earnings of $0.29 per share, which would represent a year-over-year decline of 44.23%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.3 billion, down 10.09% from the year-ago period.
MRVL's full-year Zacks Consensus Estimates are calling for earnings of $1.48 per share and revenue of $5.49 billion. These results would represent year-over-year changes of -30.19% and -7.33%, respectively.
It is also important to note the recent changes to analyst estimates for Marvell Technology. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 5.41% lower. Marvell Technology is currently sporting a Zacks Rank of #5 (Strong Sell).
Digging into valuation, Marvell Technology currently has a Forward P/E ratio of 26.7. For comparison, its industry has an average Forward P/E of 21.17, which means Marvell Technology is trading at a premium to the group.
Investors should also note that MRVL has a PEG ratio of 7.97 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. Technology Services stocks are, on average, holding a PEG ratio of 1.61 based on yesterday's closing prices.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 155, which puts it in the bottom 39% 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
Marvell Technology (MRVL - Free Report) closed at $40.01 in the latest trading session, marking a +1.34% move from the prior day. This change outpaced the S&P 500's 0.04% loss on the day. Meanwhile, the Dow lost 0.14%, and the Nasdaq, a tech-heavy index, added 2.14%.
Coming into today, shares of the chipmaker had lost 8.82% in the past month. In that same time, the Business Services sector gained 1.06%, while the S&P 500 gained 5.1%.
Marvell Technology will be looking to display strength as it nears its next earnings release. On that day, Marvell Technology is projected to report earnings of $0.29 per share, which would represent a year-over-year decline of 44.23%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.3 billion, down 10.09% from the year-ago period.
MRVL's full-year Zacks Consensus Estimates are calling for earnings of $1.48 per share and revenue of $5.49 billion. These results would represent year-over-year changes of -30.19% and -7.33%, respectively.
It is also important to note the recent changes to analyst estimates for Marvell Technology. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 5.41% lower. Marvell Technology is currently sporting a Zacks Rank of #5 (Strong Sell).
Digging into valuation, Marvell Technology currently has a Forward P/E ratio of 26.7. For comparison, its industry has an average Forward P/E of 21.17, which means Marvell Technology is trading at a premium to the group.
Investors should also note that MRVL has a PEG ratio of 7.97 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. Technology Services stocks are, on average, holding a PEG ratio of 1.61 based on yesterday's closing prices.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 155, which puts it in the bottom 39% 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.