Marvell Technology (MRVL) Outperforms Stock Market Gains: What You Should Know

Marvell Technology (MRVL) closed at $43.68 in the latest trading session, which is a +1.77% move from the previous day. This move outpaced the S&P 500’s daily gain of 0.59%. Meanwhile, the Dow Jones gained 0.28% and the Nasdaq, a high-tech index, added 0.02%.

As of today, the chipmaker’s shares had gained 5.69% in the past month. In that same time, the Business Services sector gained 7.52%, while the S&P 500 gained 6.89%.

Wall Street will be looking for positivity on Marvell Technology as its next earnings date approaches. It is expected to be on December 1, 2022. In that report, analysts expect Marvell Technology to post earnings of $0.59 per share. This would mark an interannual growth of 37.21%. Meanwhile, the Zacks Consensus Estimate for revenue projects net sales of $1.56 billion, up 28.63% from the same period a year earlier.

MRVL’s full-year Zacks Consensus Estimates call for earnings of $2.24 per share and revenue of $6.14 billion. These results would represent interannual variations of +42.68% and +37.56%, respectively.

Investors should also take into account any recent changes in analyst estimates for Marvell Technology. These recent revisions tend to reflect the evolutionary nature of short-term trading trends. As such, the positive revisions to the estimates reflect analysts’ optimism about the business and the company’s profitability.

Based on our research, we believe that these estimate revisions are directly related to stock movements close to the equipment. Investors can take advantage of this by using the Zacks Rank. This model accounts for these estimation changes and provides a simple and actionable scoring system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has an impressive track record of externally audited outperformance, with the #1 stocks generating an average annual return of +25% since 1988. Over the past 30 days, our consensus EPS forecast has moved 0.29% lower. Marvell Technology currently has a Zacks Rank of #4 (Selling).

As for its valuation, Marvell Technology has a forward P/E ratio of 19.17. This valuation marks a discount to its industry average forward P/E of 21.58.

We can also see that MRVL currently has a PEG ratio of 1.41. This metric is used in a similar way to the famous P/E ratio, but the PEG ratio also takes into account the stock’s expected earnings growth rate. Technology Services had an average PEG ratio of 1.72 at yesterday’s closing price.

The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Ranking of 124, putting it in the top 50% of 250+ industries.

The Zacks Industry Ranking measures the strength of our individual industry groups by measuring the average Zacks Ranking of individual stocks within the groups. Our research shows that the top-ranked industries in the top 50% outperform the bottom half by a factor of 2 to 1.

To follow MRVL in upcoming trading sessions, be sure to use Zacks.com.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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