In the latest trading session, Marvell Technology (MRVL) closed at $26.33, marking a +1.78% move from the previous day. The stock outpaced the S&P 500's daily gain of 1.01%. Elsewhere, the Dow gained 0.66%, while the tech-heavy Nasdaq added 1.43%.
Heading into today, shares of the chipmaker had lost 2.04% over the past month, lagging the Computer and Technology sector's gain of 2.89% and the S&P 500's gain of 0.19% in that time.
Wall Street will be looking for positivity from MRVL as it approaches its next earnings report date. The company is expected to report EPS of $0.16, down 36% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $711.16 million, down 4.52% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.65 per share and revenue of $2.69 billion, which would represent changes of -45.38% and -6.04%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for MRVL. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. MRVL is currently a Zacks Rank #4 (Sell).
Investors should also note MRVL's current valuation metrics, including its Forward P/E ratio of 39.85. This represents a premium compared to its industry's average Forward P/E of 33.64.
Meanwhile, MRVL's PEG ratio is currently 5.24. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Semiconductor - Communications stocks are, on average, holding a PEG ratio of 3.19 based on yesterday's closing prices.
The Semiconductor - Communications industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 191, putting it in the bottom 26% 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.
Be sure to follow all of these stock-moving metrics, and many 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 Group Ltd. (MRVL) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research