Marvell Technology Shares Slide 3.8% to $78.28; Trades at 23.2x Forward P/E
Marvell Technology shares fell 3.77% to $78.28, underperforming the S&P 500’s 1.57% drop and the Nasdaq’s 2.04% decline in the latest session. Consensus projects March-quarter EPS of $0.79 (up 31.7% YoY) on $2.21B revenue, while the stock trades at a 23.2x forward P/E versus a 40.6x sector average.
1. Market Underperformance
In the latest trading session, Marvell Technology shares slipped 3.77% to $78.28, lagging the S&P 500’s 1.57% decline and the Nasdaq’s 2.04% fall. This underperformance contrasts with a 0.16% gain recorded in the prior session as tech benchmarks weakened.
2. Earnings Projections
The company’s March-quarter results, due March 5, forecast EPS of $0.79, reflecting 31.7% year-over-year growth, on $2.21 billion in revenue, a 21.4% increase. Annual consensus estimates call for $2.84 in EPS and $8.18 billion in revenue, up 80.9% and 41.9% respectively.
3. Valuation and Analyst Outlook
Marvell trades at a forward P/E of 23.17 versus the industry average of 40.62 and carries a PEG ratio of 0.51 compared with 2.37 for peers. Consensus EPS estimates have been revised down 2.5% over the past month, and the stock holds a Hold rating.