Yahoo Finance Marvell Technology (MRVL) Gains As Market Dips: What You Should Know
In the latest trading session, Marvell Technology (MRVL) closed at $54.80, marking a +1.54% move from the previous day. The stock outpaced the S&P 500's daily loss of 1.59%.
Coming into today, shares of the chipmaker had lost 0.55% in the past month. In that same time, the Business Services sector lost 14.17%, while the S&P 500 gained 2.53%.
Wall Street will be looking for positivity from MRVL as it approaches its next earnings report date. On that day, MRVL is projected to report earnings of $0.31 per share, which would represent year-over-year growth of 47.62%. Our most recent consensus estimate is calling for quarterly revenue of $1.07 billion, up 46.49% from the year-ago period.
MRVL's full-year Zacks Consensus Estimates are calling for earnings of $1.40 per share and revenue of $4.24 billion. These results would represent year-over-year changes of +52.17% and +42.9%, respectively.
Investors should also note any recent changes to analyst estimates for MRVL. Recent revisions tend to reflect the latest near-term business trends. 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 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 past month, the Zacks Consensus EPS estimate has moved 0.24% higher. MRVL is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that MRVL has a Forward P/E ratio of 38.49 right now. For comparison, its industry has an average Forward P/E of 31.84, which means MRVL is trading at a premium to the group.
We can also see that MRVL currently has a PEG ratio of 1.87. 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. MRVL's industry had an average PEG ratio of 2.6 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 183, putting it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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