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Marvell Technology (MRVL) Laps the Stock Market: Here's Why
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Marvell Technology (MRVL - Free Report) ended the recent trading session at $57.17, demonstrating a +0.25% swing from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 0.16%. Meanwhile, the Dow gained 0.47%, and the Nasdaq, a tech-heavy index, added 0.07%.
The chipmaker's shares have seen an increase of 7.26% over the last month, surpassing the Business Services sector's gain of 3.77% and the S&P 500's gain of 4.02%.
The investment community will be closely monitoring the performance of Marvell Technology in its forthcoming earnings report. The company is scheduled to release its earnings on November 30, 2023. It is anticipated that the company will report an EPS of $0.40, marking a 29.82% fall compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $1.4 billion, down 8.85% from the year-ago period.
MRVL's full-year Zacks Consensus Estimates are calling for earnings of $1.53 per share and revenue of $5.52 billion. These results would represent year-over-year changes of -27.83% and -6.67%, respectively.
Investors should also note any recent changes to analyst estimates for Marvell Technology. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 last 30 days, the Zacks Consensus EPS estimate has moved 0.09% higher. Marvell Technology is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Marvell Technology is currently trading at a Forward P/E ratio of 37.22. This valuation marks a premium compared to its industry's average Forward P/E of 25.4.
It's also important to note that MRVL currently trades at a PEG ratio of 4.07. 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. The Technology Services industry had an average PEG ratio of 1.6 as trading concluded yesterday.
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 78, positioning it in the top 31% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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) Laps the Stock Market: Here's Why
Marvell Technology (MRVL - Free Report) ended the recent trading session at $57.17, demonstrating a +0.25% swing from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 0.16%. Meanwhile, the Dow gained 0.47%, and the Nasdaq, a tech-heavy index, added 0.07%.
The chipmaker's shares have seen an increase of 7.26% over the last month, surpassing the Business Services sector's gain of 3.77% and the S&P 500's gain of 4.02%.
The investment community will be closely monitoring the performance of Marvell Technology in its forthcoming earnings report. The company is scheduled to release its earnings on November 30, 2023. It is anticipated that the company will report an EPS of $0.40, marking a 29.82% fall compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $1.4 billion, down 8.85% from the year-ago period.
MRVL's full-year Zacks Consensus Estimates are calling for earnings of $1.53 per share and revenue of $5.52 billion. These results would represent year-over-year changes of -27.83% and -6.67%, respectively.
Investors should also note any recent changes to analyst estimates for Marvell Technology. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 last 30 days, the Zacks Consensus EPS estimate has moved 0.09% higher. Marvell Technology is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Marvell Technology is currently trading at a Forward P/E ratio of 37.22. This valuation marks a premium compared to its industry's average Forward P/E of 25.4.
It's also important to note that MRVL currently trades at a PEG ratio of 4.07. 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. The Technology Services industry had an average PEG ratio of 1.6 as trading concluded yesterday.
The Technology Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 78, positioning it in the top 31% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.