Analysts on Wall Street project that Marvell Technology (MRVL) will announce quarterly earnings of $0.67 per share in its forthcoming report, representing an increase of 123.3% year over year. Revenues are projected to reach $2.01 billion, increasing 58% from the same quarter last year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.1% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
That said, let's delve into the average estimates of some Marvell metrics that Wall Street analysts commonly model and monitor.
Analysts forecast 'Net Revenue by end market- Data center' to reach $1.51 billion. The estimate points to a change of +71.6% from the year-ago quarter.
The consensus estimate for 'Net Revenue by end market- Carrier infrastructure' stands at $145.61 million. The estimate suggests a change of +91.8% year over year.
It is projected by analysts that the 'Net Revenue by end market- Automotive/industrial' will reach $75.64 million. The estimate suggests a change of -0.7% year over year.
Based on the collective assessment of analysts, 'Net Revenue by end market- Consumer' should arrive at $94.08 million. The estimate suggests a change of +5.8% year over year.
Analysts' assessment points toward 'Net Revenue by end market- Enterprise networking' reaching $185.45 million. The estimate points to a change of +22.8% from the year-ago quarter.
View all Key Company Metrics for Marvell here>>>
Shares of Marvell have demonstrated returns of -1.6% over the past month compared to the Zacks S&P 500 composite's +2.7% change. With a Zacks Rank #3 (Hold), MRVL is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Marvell Technology, Inc. (MRVL): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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