Analysts on Wall Street project that Marvell Technology (MRVL) will announce quarterly earnings of $0.79 per share in its forthcoming report, representing an increase of 31.7% year over year. Revenues are projected to reach $2.2 billion, increasing 21% from the same quarter last year.
The consensus EPS estimate for the quarter has undergone a downward revision of 4.3% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
In light of this perspective, let's dive into the average estimates of certain Marvell metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts forecast 'Net Revenue by end market- Data center' to reach $1.63 billion. The estimate suggests a change of +19% year over year.
The average prediction of analysts places 'Net Revenue by end market- Carrier infrastructure' at $191.27 million. The estimate indicates a change of +80.8% from the prior-year quarter.
The consensus estimate for 'Net Revenue by end market- Enterprise networking' stands at $251.48 million. The estimate indicates a change of +46.7% from the prior-year quarter.
The combined assessment of analysts suggests that 'Net Revenue by end market- Consumer' will likely reach $100.78 million. The estimate indicates a change of +13.6% from the prior-year quarter.
Based on the collective assessment of analysts, 'Net Revenue by end market- Automotive/industrial' should arrive at $33.26 million. The estimate indicates a year-over-year change of -61.2%.
View all Key Company Metrics for Marvell here>>>
Over the past month, Marvell shares have recorded returns of +3.5% versus the Zacks S&P 500 composite's -1.3% change. Based on its Zacks Rank #4 (Sell), MRVL will likely underperform the overall market in the upcoming period. 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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