Marvell Technology (MRVL Quick QuoteMRVL - Free Report) closed at $72.92 in the latest trading session, marking a -0.76% move from the prior day. This change lagged the SP 500's daily of 0%.
Heading into today, shares of the chipmaker had gained 11.93% over the past month, outpacing the Business Services sector's gain of 5.05% and the SP 500's gain of 7.79% in that time.
Wall Street will be looking for positivity from MRVL as it approaches its next earnings report date. This is expected to be December 2, 2021. In that report, analysts expect MRVL to post earnings of $0.38 per share. This would mark year-over-year growth of 52%. Meanwhile, our latest consensus estimate is calling for revenue of $1.15 billion, up 53.01% from the prior-year quarter.
MRVL's full-year Zacks Consensus Estimates are calling for earnings of $1.45 per share and revenue of $4.28 billion. These results would represent year-over-year changes of +57.61% and +44.03%, respectively.
Investors might also notice recent changes to analyst estimates for MRVL. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. 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 50.84. This valuation marks a premium compared to its industry's average Forward P/E of 31.56.
Investors should also note that MRVL has a PEG ratio of 2.35 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. MRVL's industry had an average PEG ratio of 1.69 as of yesterday's close.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 152, which puts it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
To follow MRVL in the coming trading sessions, be sure to utilize Zacks.com.

Source: Zacks.com

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