Marvell Technology (MRVL) Exceeds Market Returns: Some Facts to Consider

Marvell Technology (MRVL) closed the latest trading day at $115.15, indicating a +0.73% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily gain of 0.16%. Elsewhere, the Dow saw an upswing of 0.86%, while the tech-heavy Nasdaq depreciated by 0.38%.Coming into today, shares of the chipmaker had lost 5.34% in the past month. In that same time, the Computer and Technology sector lost 1.29%, while the S&P 500 lost 2.2%.The investment community will be closely monitoring the performance of Marvell Technology in its forthcoming earnings report. In that report, analysts expect Marvell Technology to post earnings of $0.59 per share. This would mark year-over-year growth of 28.26%. Simultaneously, our latest consensus estimate expects the revenue to be $1.8 billion, showing a 26.41% escalation compared to the year-ago quarter.Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $1.56 per share and revenue of $5.75 billion, indicating changes of +3.31% and +4.46%, respectively, compared to the previous year.Investors should also pay attention to any latest changes in analyst estimates for Marvell Technology. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.54% higher. Marvell Technology is holding a Zacks Rank of #1 (Strong Buy) right now.From a valuation perspective, Marvell Technology is currently exchanging hands at a Forward P/E ratio of 73.46. Its industry sports an average Forward P/E of 26.8, so one might conclude that Marvell Technology is trading at a premium comparatively.Also, we should mention that MRVL has a PEG ratio of 2.18. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Electronics - Semiconductors industry had an average PEG ratio of 2.12.The Electronics - Semiconductors industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 137, this industry ranks in the bottom 46% of all industries, numbering over 250.The Zacks Industry Rank is ordered 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.Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.1% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks