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Marvell Technology (MRVL) Stock Moves -0.08%: What You Should Know
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The most recent trading session ended with Marvell Technology (MRVL - Free Report) standing at $60.51, reflecting a -0.08% shift from the previouse trading day's closing. At the same time, the Dow lost 0.36%, and the tech-heavy Nasdaq gained 0.21%.
The chipmaker's shares have seen a decrease of 17.71% over the last month, not keeping up with the Business Services sector's loss of 1.9% and the S&P 500's loss of 4.22%.
Investors will be eagerly watching for the performance of Marvell Technology in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 29, 2024. In that report, analysts expect Marvell Technology to post earnings of $0.29 per share. This would mark a year-over-year decline of 12.12%. Simultaneously, our latest consensus estimate expects the revenue to be $1.25 billion, showing a 6.74% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.39 per share and revenue of $5.4 billion, which would represent changes of -7.95% and -2.03%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Marvell Technology. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 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).
Investors should also note Marvell Technology's current valuation metrics, including its Forward P/E ratio of 43.48. Its industry sports an average Forward P/E of 21.51, so one might conclude that Marvell Technology is trading at a premium comparatively.
Investors should also note that MRVL has a PEG ratio of 1.56 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. As of the close of trade yesterday, the Technology Services industry held an average PEG ratio of 1.48.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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Marvell Technology (MRVL) Stock Moves -0.08%: What You Should Know
The most recent trading session ended with Marvell Technology (MRVL - Free Report) standing at $60.51, reflecting a -0.08% shift from the previouse trading day's closing. At the same time, the Dow lost 0.36%, and the tech-heavy Nasdaq gained 0.21%.
The chipmaker's shares have seen a decrease of 17.71% over the last month, not keeping up with the Business Services sector's loss of 1.9% and the S&P 500's loss of 4.22%.
Investors will be eagerly watching for the performance of Marvell Technology in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 29, 2024. In that report, analysts expect Marvell Technology to post earnings of $0.29 per share. This would mark a year-over-year decline of 12.12%. Simultaneously, our latest consensus estimate expects the revenue to be $1.25 billion, showing a 6.74% drop compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.39 per share and revenue of $5.4 billion, which would represent changes of -7.95% and -2.03%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Marvell Technology. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 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).
Investors should also note Marvell Technology's current valuation metrics, including its Forward P/E ratio of 43.48. Its industry sports an average Forward P/E of 21.51, so one might conclude that Marvell Technology is trading at a premium comparatively.
Investors should also note that MRVL has a PEG ratio of 1.56 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. As of the close of trade yesterday, the Technology Services industry held an average PEG ratio of 1.48.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.