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Why Marvell Technology (MRVL) Dipped More Than Broader Market Today
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Marvell Technology (MRVL - Free Report) closed the latest trading day at $63.99, indicating a -0.56% change from the previous session's end. The stock's performance was behind the S&P 500's daily loss of 0.51%. On the other hand, the Dow registered a gain of 0.2%, and the technology-centric Nasdaq decreased by 0.93%.
The chipmaker's stock has dropped by 5.74% in the past month, falling short of the Business Services sector's loss of 1.69% and the S&P 500's loss of 0.26%.
Investors will be eagerly watching for the performance of Marvell Technology in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.29, indicating a 12.12% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $1.25 billion, down 6.74% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.39 per share and a revenue of $5.4 billion, signifying shifts of -7.95% and -2.03%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Marvell Technology. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, Marvell Technology is carrying a Zacks Rank of #3 (Hold).
Looking at its valuation, Marvell Technology is holding a Forward P/E ratio of 46.2. For comparison, its industry has an average Forward P/E of 22.98, which means Marvell Technology is trading at a premium to the group.
It's also important to note that MRVL currently trades at a PEG ratio of 1.65. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Technology Services was holding an average PEG ratio of 1.44 at yesterday's closing price.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 98, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Why Marvell Technology (MRVL) Dipped More Than Broader Market Today
Marvell Technology (MRVL - Free Report) closed the latest trading day at $63.99, indicating a -0.56% change from the previous session's end. The stock's performance was behind the S&P 500's daily loss of 0.51%. On the other hand, the Dow registered a gain of 0.2%, and the technology-centric Nasdaq decreased by 0.93%.
The chipmaker's stock has dropped by 5.74% in the past month, falling short of the Business Services sector's loss of 1.69% and the S&P 500's loss of 0.26%.
Investors will be eagerly watching for the performance of Marvell Technology in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.29, indicating a 12.12% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $1.25 billion, down 6.74% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.39 per share and a revenue of $5.4 billion, signifying shifts of -7.95% and -2.03%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Marvell Technology. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, Marvell Technology is carrying a Zacks Rank of #3 (Hold).
Looking at its valuation, Marvell Technology is holding a Forward P/E ratio of 46.2. For comparison, its industry has an average Forward P/E of 22.98, which means Marvell Technology is trading at a premium to the group.
It's also important to note that MRVL currently trades at a PEG ratio of 1.65. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Technology Services was holding an average PEG ratio of 1.44 at yesterday's closing price.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 98, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.