Yahoo Finance Marvell Technology (MRVL) Stock Sinks As Market Gains: What You Should Know
Marvell Technology (MRVL) closed at $39.02 in the latest trading session, marking a -1.14% move from the prior day. This change lagged the S&P 500's daily gain of 0.09%. Meanwhile, the Dow gained 0.07%, and the Nasdaq, a tech-heavy index, added 0.98%.
Coming into today, shares of the chipmaker had lost 6.65% in the past month. In that same time, the Business Services sector gained 2.09%, while the S&P 500 gained 4.59%.
Wall Street will be looking for positivity from Marvell Technology as it approaches its next earnings report date. In that report, analysts expect Marvell Technology to post earnings of $0.29 per share. This would mark a year-over-year decline of 44.23%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.3 billion, down 10.09% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.48 per share and revenue of $5.49 billion, which would represent changes of -30.19% and -7.33%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Marvell Technology. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 5.41% lower. Marvell Technology is holding a Zacks Rank of #5 (Strong Sell) right now.
Digging into valuation, Marvell Technology currently has a Forward P/E ratio of 26.7. This represents a premium compared to its industry's average Forward P/E of 20.08.
Investors should also note that MRVL has a PEG ratio of 7.97 right now. 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 1.8 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 154, which puts it in the bottom 39% 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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Marvell Technology, Inc. (MRVL) : Free Stock Analysis Report
