Marvell Technology (MRVL) Surpasses Market Returns: Some Facts Worth Knowing

Marvell Technology (MRVL) ended the recent trading session at $75.91, demonstrating a +2.29% change from the preceding day's closing price. The stock exceeded the S&P 500, which registered a gain of 0.02% for the day. Meanwhile, the Dow experienced a drop of 0.14%, and the technology-dominated Nasdaq saw an increase of 0.33%. The stock of chipmaker has fallen by 3.82% in the past month, lagging the Computer and Technology sector's gain of 6.31% and the S&P 500's gain of 4.93%.Investors will be eagerly watching for the performance of Marvell Technology in its upcoming earnings disclosure. In that report, analysts expect Marvell Technology to post earnings of $0.67 per share. This would mark year-over-year growth of 123.33%. Alongside, our most recent consensus estimate is anticipating revenue of $2.01 billion, indicating a 57.89% upward movement from the same quarter last year. For the full year, the Zacks Consensus Estimates project earnings of $2.79 per share and a revenue of $8.22 billion, demonstrating changes of +77.71% and +42.61%, respectively, from the preceding year. It is also important to note the recent changes to analyst estimates for Marvell Technology. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the business and profitability. Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, Marvell Technology possesses a Zacks Rank of #3 (Hold). From a valuation perspective, Marvell Technology is currently exchanging hands at a Forward P/E ratio of 26.57. This valuation marks no noticeable deviation compared to its industry average Forward P/E of 26.57. We can also see that MRVL currently has a PEG ratio of 0.62. 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. The average PEG ratio for the Electronics - Semiconductors industry stood at 1.61 at the close of the market yesterday. The Electronics - Semiconductors industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 65, placing it within the top 27% of over 250 industries. The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions. Should You Invest in Marvell Technology, Inc. (MRVL)?Before you invest in Marvell Technology, Inc. (MRVL), want to know the best stocks to buy for the next 30 days? Check out Zacks Investment Research for our free report on the 7 best stocks to buy.Zacks Investment Research has been committed to providing investors with tools and independent research since 1978. For more than a quarter century, the Zacks Rank stock-rating system has more than doubled the S&P 500 with an average gain of +24.08% per year. (These returns cover a period from January 1, 1988 through May 6, 2024.)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, Inc. (MRVL): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks