In the latest close session, Marvell Technology (MRVL) was up +1.91% at $90.15. On the other hand, the Dow registered a loss of 0.16%, and the technology-centric Nasdaq increased by 0.55%.
Coming into today, shares of the chipmaker had gained 5.22% in the past month. In that same time, the Computer and Technology sector gained 6.92%, while the S&P 500 gained 3.83%.
Analysts and investors alike will be keeping a close eye on the performance of Marvell Technology in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.74, marking a 72.09% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $2.06 billion, up 35.94% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.8 per share and a revenue of $8.11 billion, signifying shifts of +78.34% and +40.66%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Marvell Technology. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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. Within the past 30 days, our consensus EPS projection has moved 0.38% higher. Marvell Technology currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Marvell Technology has a Forward P/E ratio of 31.57 right now. This expresses a discount compared to the average Forward P/E of 40.61 of its industry.
Investors should also note that MRVL has a PEG ratio of 0.83 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Electronics - Semiconductors industry held an average PEG ratio of 2.06.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 83, placing it within the top 34% of over 250 industries.
The Zacks Industry Rank is ordered 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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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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