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Marvell Technology (MRVL) Stock Moves -1.38%: What You Should Know

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Zacks Equity Research
·3 min read
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Marvell Technology (MRVL) closed the most recent trading day at $51.46, moving -1.38% from the previous trading session. This change was narrower than the S&P 500's 1.93% loss on the day. Elsewhere, the Dow lost 2.03%, while the tech-heavy Nasdaq lost 2%.

Coming into today, shares of the chipmaker had gained 7.66% in the past month. In that same time, the Computer and Technology sector gained 3.87%, while the S&P 500 gained 1.48%.

Investors will be hoping for strength from MRVL as it approaches its next earnings release. On that day, MRVL is projected to report earnings of $0.29 per share, which would represent year-over-year growth of 70.59%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $786.17 million, up 9.55% from the year-ago period.

MRVL's full-year Zacks Consensus Estimates are calling for earnings of $0.93 per share and revenue of $2.96 billion. These results would represent year-over-year changes of +40.91% and +9.56%, respectively.

Investors might also notice recent changes to analyst estimates for MRVL. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 0.17% higher. MRVL currently has a Zacks Rank of #3 (Hold).

Investors should also note MRVL's current valuation metrics, including its Forward P/E ratio of 55.17. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 55.17.

We can also see that MRVL currently has a PEG ratio of 2.83. 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. Semiconductor - Communications stocks are, on average, holding a PEG ratio of 3.66 based on yesterday's closing prices.

The Semiconductor - Communications industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 39, which puts it in the top 16% of all 250+ industries.

The Zacks Industry Rank includes is listed in order 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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