The latest trading session saw Marvell Technology (MRVL) ending at $123.75, denoting a -0.81% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a gain of 0.88% for the day. Elsewhere, the Dow gained 1.24%, while the tech-heavy Nasdaq added 0.65%.

Shares of the chipmaker witnessed a gain of 9.67% over the previous month, beating the performance of the Computer and Technology sector with its gain of 0.37% and the S&P 500's gain of 1.17%.

The upcoming earnings release of Marvell Technology will be of great interest to investors. It is anticipated that the company will report an EPS of $0.59, marking a 28.26% rise compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $1.8 billion, up 26.41% from the prior-year quarter.

MRVL's full-year Zacks Consensus Estimates are calling for earnings of $1.56 per share and revenue of $5.75 billion. These results would represent year-over-year changes of +3.31% and +4.46%, respectively.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Marvell Technology. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. Marvell Technology currently has a Zacks Rank of #1 (Strong Buy).

Looking at valuation, Marvell Technology is presently trading at a Forward P/E ratio of 80.17. Its industry sports an average Forward P/E of 26.04, so one might conclude that Marvell Technology is trading at a premium comparatively.

Investors should also note that MRVL has a PEG ratio of 2.38 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Electronics - Semiconductors industry held an average PEG ratio of 2.2.

The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 89, which puts it in the top 36% of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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