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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 latest trading day at $58.22, indicating a +0.95% change from the previous session's end. This change lagged the S&P 500's 1.04% gain on the day. Meanwhile, the Dow experienced a rise of 0.76%, and the technology-dominated Nasdaq saw an increase of 1.03%.
Coming into today, shares of the chipmaker had lost 23.01% in the past month. In that same time, the Business Services sector lost 5.54%, while the S&P 500 lost 6.74%.
Analysts and investors alike will be keeping a close eye on the performance of Marvell Technology in its upcoming earnings disclosure. The company's earnings report is set to go public on August 29, 2024. The company's upcoming EPS is projected at $0.29, signifying a 12.12% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.25 billion, down 6.74% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $1.39 per share and a revenue of $5.4 billion, demonstrating changes of -7.95% and -2.03%, respectively, from the preceding year.
Any recent changes to analyst estimates for Marvell Technology should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Marvell Technology presently features a Zacks Rank of #4 (Sell).
Looking at valuation, Marvell Technology is presently trading at a Forward P/E ratio of 41.4. This valuation marks a premium compared to its industry's average Forward P/E of 21.
It's also important to note that MRVL currently trades at a PEG ratio of 1.48. 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. As the market closed yesterday, the Technology Services industry was having an average PEG ratio of 1.42.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 99, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Marvell Technology (MRVL) Gains But Lags Market: What You Should Know
Marvell Technology (MRVL - Free Report) closed the latest trading day at $58.22, indicating a +0.95% change from the previous session's end. This change lagged the S&P 500's 1.04% gain on the day. Meanwhile, the Dow experienced a rise of 0.76%, and the technology-dominated Nasdaq saw an increase of 1.03%.
Coming into today, shares of the chipmaker had lost 23.01% in the past month. In that same time, the Business Services sector lost 5.54%, while the S&P 500 lost 6.74%.
Analysts and investors alike will be keeping a close eye on the performance of Marvell Technology in its upcoming earnings disclosure. The company's earnings report is set to go public on August 29, 2024. The company's upcoming EPS is projected at $0.29, signifying a 12.12% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.25 billion, down 6.74% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $1.39 per share and a revenue of $5.4 billion, demonstrating changes of -7.95% and -2.03%, respectively, from the preceding year.
Any recent changes to analyst estimates for Marvell Technology should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Marvell Technology presently features a Zacks Rank of #4 (Sell).
Looking at valuation, Marvell Technology is presently trading at a Forward P/E ratio of 41.4. This valuation marks a premium compared to its industry's average Forward P/E of 21.
It's also important to note that MRVL currently trades at a PEG ratio of 1.48. 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. As the market closed yesterday, the Technology Services industry was having an average PEG ratio of 1.42.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 99, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.