Yahoo Finance Marvell Technology (MRVL) Outperforms Broader Market: What You Need to Know
The most recent trading session ended with Marvell Technology (MRVL) standing at $64.85, reflecting a +1.55% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily gain of 0.02%. Elsewhere, the Dow lost 0.11%, while the tech-heavy Nasdaq added 0.1%.
Heading into today, shares of the chipmaker had lost 6.45% over the past month, lagging the Business Services sector's loss of 5.08% and the S&P 500's loss of 3.01% in that time.
Market participants will be closely following the financial results of Marvell Technology in its upcoming release. The company is predicted to post an EPS of $0.23, indicating a 25.81% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $1.15 billion, down 12.9% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $1.35 per share and a revenue of $5.26 billion, representing changes of -10.6% and -4.56%, respectively, from the prior year.
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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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, there's been a 0.33% rise in the Zacks Consensus EPS estimate. As of now, Marvell Technology holds a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Marvell Technology has a Forward P/E ratio of 47.25 right now. This represents a premium compared to its industry's average Forward P/E of 23.22.
We can additionally observe that MRVL currently boasts a PEG ratio of 2.49. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Technology Services industry was having an average PEG ratio of 1.52.
The Technology Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 152, finds itself in the bottom 40% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Marvell Technology, Inc. (MRVL) : Free Stock Analysis Report
