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Marvell Technology (MRVL) Stock Moves -0.44%: What You Should Know

In the latest trading session, Marvell Technology (MRVL) closed at $43.16, marking a -0.44% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.89%. At the same time, the Dow lost 0.63%, and the tech-heavy Nasdaq lost 0.25%.

Heading into today, shares of the chipmaker had gained 17.13% over the past month, outpacing the Business Services sector's gain of 11.76% and the S&P 500's gain of 11.42% in that time.

Marvell Technology will be looking to display strength as it nears its next earnings release, which is expected to be December 1, 2022. In that report, analysts expect Marvell Technology to post earnings of $0.59 per share. This would mark year-over-year growth of 37.21%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.56 billion, up 28.63% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.24 per share and revenue of $6.14 billion. These totals would mark changes of +42.68% and +37.56%, respectively, from last year.

Investors should also note any recent changes to analyst estimates for Marvell Technology. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

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 has moved 0.67% lower. Marvell Technology is holding a Zacks Rank of #4 (Sell) right now.

Valuation is also important, so investors should note that Marvell Technology has a Forward P/E ratio of 19.36 right now. This represents a discount compared to its industry's average Forward P/E of 23.36.

It is also worth noting that MRVL currently has a PEG ratio of 1.42. 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. The Technology Services was holding an average PEG ratio of 1.99 at yesterday's closing price.

The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 124, putting it in the top 50% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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