The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Marvell Technology Group (MRVL) one of those stocks right now? By taking a look at the stock’s year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Marvell Technology Group is one of 616 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #10 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. MRVL is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for MRVL’s full-year earnings has moved 0.02% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, MRVL has returned 38.89% so far this year. At the same time, Computer and Technology stocks have gained an average of 21.77%. This shows that Marvell Technology Group is outperforming its peers so far this year.
To break things down more, MRVL belongs to the Semiconductor – Communications industry, a group that includes 4 individual companies and currently sits at #39 in the Zacks Industry Rank. Stocks in this group have gained about 36.74% so far this year, so MRVL is performing better this group in terms of year-to-date returns.
MRVL will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.