Marvell Technology (MRVL) closed the most recent trading day at $18.66, moving +0.48% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.47%. Elsewhere, the Dow gained 0.68%, while the tech-heavy Nasdaq added 0.74%.
Prior to today's trading, shares of the chipmaker had gained 11.8% over the past month. This has outpaced the Computer and Technology sector's gain of 9.76% and the S&P 500's gain of 7.71% in that time.
MRVL will be looking to display strength as it nears its next earnings release. In that report, analysts expect MRVL to post earnings of $0.32 per share. This would mark no growth from the year-ago period. Our most recent consensus estimate is calling for quarterly revenue of $810.63 million, up 31.72% from the year-ago period.
Investors should also note any recent changes to analyst estimates for MRVL. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. MRVL is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, MRVL is currently trading at a Forward P/E ratio of 12.86. This valuation marks a discount compared to its industry's average Forward P/E of 18.93.
We can also see that MRVL currently has a PEG ratio of 1.37. 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. MRVL's industry had an average PEG ratio of 2.71 as of yesterday's close.
The Semiconductor - Communications industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 215, which puts it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Marvell Technology Group Ltd. (MRVL): Free Stock Analysis Report
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