Marvell Technology (MRVL) Stock Moves 0.58%: What You Should Know

Marvell Technology (MRVL) closed the latest trading day at $89.86, indicating a +0.58% change from the previous session's end. Meanwhile, the Dow gained 0.32%, and the Nasdaq, a tech-heavy index, lost 0.11%.Coming into today, shares of the chipmaker had gained 7.19% in the past month. In that same time, the Computer and Technology sector gained 1.32%, while the S&P 500 gained 0.97%.The investment community will be paying close attention to the earnings performance of Marvell Technology in its upcoming release. The company is slated to reveal its earnings on December 3, 2024. In that report, analysts expect Marvell Technology to post earnings of $0.40 per share. This would mark a year-over-year decline of 2.44%. Simultaneously, our latest consensus estimate expects the revenue to be $1.45 billion, showing a 2.47% escalation compared to the year-ago quarter.In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.46 per share and a revenue of $5.52 billion, indicating changes of -3.31% and +0.27%, respectively, from the former year.Investors should also pay attention to any latest changes in analyst estimates for Marvell Technology. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 past month, there's been no change in the Zacks Consensus EPS estimate. Currently, Marvell Technology is carrying a Zacks Rank of #3 (Hold).Valuation is also important, so investors should note that Marvell Technology has a Forward P/E ratio of 61.35 right now. For comparison, its industry has an average Forward P/E of 32.69, which means Marvell Technology is trading at a premium to the group.Meanwhile, MRVL's PEG ratio is currently 2.08. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Electronics - Semiconductors industry was having an average PEG ratio of 1.75.The Electronics - Semiconductors industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 132, this industry ranks in the bottom 48% of all industries, numbering over 250.The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant 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