Marvell Technology (MRVL) finished the trading day at $113.56, up by 0.62%. This is a bright spot compared to the S&P 500, which dropped by 0.76% that day. The Dow also fell by 0.28%, while the tech-focused Nasdaq saw a decline of 1.2%.
However, it hasn’t been a great month for Marvell. The stock has dipped by 4.5% over the last 30 days. In contrast, the Computer and Technology sector gained 1.75%, and the S&P 500 rose by 2.71%.
Investors are eagerly awaiting Marvell Technology’s upcoming earnings report. They expect the company to announce earnings of $0.59 per share, marking a 28.26% increase from last year. Additionally, revenue is projected at $1.8 billion, reflecting a significant growth of 26.41% compared to the same quarter last year.
Changes in analyst estimates for Marvell could hint at its future performance. Positive adjustments often suggest that analysts believe the company’s outlook and profitability are improving.
Our analysis indicates a strong link between these estimate changes and stock prices. To measure this, we use the Zacks Rank, which incorporates estimate revisions and offers a straightforward rating system.
The Zacks Rank ranges from #1 (Strong Buy) to #5 (Strong Sell) and has a history of success. Stocks rated #1 have averaged a 25% annual return since 1988. Recently, Marvell Technology has earned a Zacks Rank of #1.
Currently, Marvell’s Forward P/E ratio stands at 72.51, which is higher than the industry average of 25.37. This suggests that the stock is valued at a premium.
Marvell also has a PEG ratio of 2.15, a metric that considers growth. In comparison, the average PEG ratio for the Electronics – Semiconductors industry was 2.06 at the previous day’s close.
The Electronics – Semiconductors industry is part of the broader Computer and Technology sector. Currently, it holds a Zacks Industry Rank of 84, placing it in the top 34% of over 250 industries.
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Marvell Technology, Zacks Rank, Strong Buy, estimate changes
