Marvell Technology (MRVL) Stock Moves -1.32%: What You Should Know
Marvell Technology (MRVL) closed the most recent trading day at $40.49, moving -1.32% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.56%. Meanwhile, the Dow lost 1.81%, and the Nasdaq, a tech-heavy index, lost 4.66%.
Coming into today, shares of the chipmaker had gained 8.52% in the past month. In that same time, the Business Services sector gained 6.21%, while the S&P 500 gained 3.82%.
Marvell Technology will be looking to display strength as it nears its next earnings release. In that report, analysts expect Marvell Technology to post earnings of $0.46 per share. This would mark a year-over-year decline of 8%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.4 billion, up 4.26% from the year-ago period.
MRVL's full-year Zacks Consensus Estimates are calling for earnings of $2.12 per share and revenue of $5.9 billion. These results would represent year-over-year changes of +35.03% and +32.25%, respectively.
Any recent changes to analyst estimates for Marvell Technology should also be noted by investors. 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.
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. The Zacks Consensus EPS estimate has moved 0.01% higher within the past month. Marvell Technology currently has a Zacks Rank of #5 (Strong Sell).
In terms of valuation, Marvell Technology is currently trading at a Forward P/E ratio of 19.33. For comparison, its industry has an average Forward P/E of 20.88, which means Marvell Technology is trading at a discount to the group.
Meanwhile, MRVL's PEG ratio is currently 1.78. 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. MRVL's industry had an average PEG ratio of 2.09 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 92, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Marvell Technology, Inc. (MRVL) : Free Stock Analysis Report
To read this article on Zacks.com click here.