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Marvell Technology (MRVL) Stock Dips While Market Gains: Key Facts
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Marvell Technology (MRVL - Free Report) ended the recent trading session at $79.85, demonstrating a -0.08% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.4%. On the other hand, the Dow registered a gain of 0.09%, and the technology-centric Nasdaq increased by 0.63%.
Shares of the chipmaker have appreciated by 6.72% over the course of the past month, outperforming the Business Services sector's gain of 3.38% and the S&P 500's gain of 3.76%.
The investment community will be paying close attention to the earnings performance of Marvell Technology in its upcoming release. The company's upcoming EPS is projected at $0.40, signifying a 2.44% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $1.45 billion, up 2.47% from the year-ago period.
MRVL's full-year Zacks Consensus Estimates are calling for earnings of $1.46 per share and revenue of $5.52 billion. These results would represent year-over-year changes of -3.31% and +0.27%, respectively.
Investors should also take note of any recent adjustments to 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. 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 54.88. This denotes a premium relative to the industry's average Forward P/E of 25.87.
One should further note that MRVL currently holds a PEG ratio of 1.86. 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. By the end of yesterday's trading, the Technology Services industry had an average PEG ratio of 1.54.
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 69, finds itself in the top 28% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Marvell Technology (MRVL) Stock Dips While Market Gains: Key Facts
Marvell Technology (MRVL - Free Report) ended the recent trading session at $79.85, demonstrating a -0.08% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.4%. On the other hand, the Dow registered a gain of 0.09%, and the technology-centric Nasdaq increased by 0.63%.
Shares of the chipmaker have appreciated by 6.72% over the course of the past month, outperforming the Business Services sector's gain of 3.38% and the S&P 500's gain of 3.76%.
The investment community will be paying close attention to the earnings performance of Marvell Technology in its upcoming release. The company's upcoming EPS is projected at $0.40, signifying a 2.44% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $1.45 billion, up 2.47% from the year-ago period.
MRVL's full-year Zacks Consensus Estimates are calling for earnings of $1.46 per share and revenue of $5.52 billion. These results would represent year-over-year changes of -3.31% and +0.27%, respectively.
Investors should also take note of any recent adjustments to 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. 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 54.88. This denotes a premium relative to the industry's average Forward P/E of 25.87.
One should further note that MRVL currently holds a PEG ratio of 1.86. 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. By the end of yesterday's trading, the Technology Services industry had an average PEG ratio of 1.54.
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 69, finds itself in the top 28% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.