Yahoo Finance Marvell Technology (MRVL) Outpaces Stock Market Gains: What You Should Know
Marvell Technology (MRVL) closed the most recent trading day at $41.03, moving +0.15% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.05%. At the same time, the Dow lost 0.17%, and the tech-heavy Nasdaq gained 6.02%.
Prior to today's trading, shares of the chipmaker had gained 4.36% over the past month. This has outpaced the Business Services sector's gain of 0.84% and the S&P 500's gain of 1.18% in that time.
Investors will be hoping for strength from Marvell Technology as it approaches its next earnings release, which is expected to be May 25, 2023. The company is expected to report EPS of $0.29, down 44.23% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.3 billion, down 10.09% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.48 per share and revenue of $5.49 billion. These totals would mark changes of -30.19% and -7.33%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Marvell Technology. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Marvell Technology is currently a Zacks Rank #4 (Sell).
Valuation is also important, so investors should note that Marvell Technology has a Forward P/E ratio of 27.71 right now. This represents a premium compared to its industry's average Forward P/E of 20.93.
Meanwhile, MRVL's PEG ratio is currently 8.27. 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. The Technology Services industry currently had an average PEG ratio of 1.63 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 160, putting it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Marvell Technology, Inc. (MRVL) : Free Stock Analysis Report
