Marvell

The following is a summary of the Marvell Technology, Inc. (MRVL) Q4 2024 Earnings Call Transcript: Financial Performance: Marvell Technology reported Q4 revenue of $1.43 billion, up 1% sequentially. Gross margin increased by 330 basis points. The quarterly earnings per share was $0.46, a sequential increase of 12%. Data center revenue was a record $765 million, a year-over-year increase of 54%. Fiscal 2024 reported revenue was $5.5 billion. Company plans to increase stock repurchases in Q1 2025. Business Progress: Marvell is focusing on AI infrastructure and data center market for fiscal 2025. Company continues collaborating with TSMC to develop 2-nanometer semiconductors for accelerated infrastructure. Significant revenue contributions are expected from AI cloud optimized programs in fiscal 2025. Successful product qualifications of 1.6T products supports this goal. Plans to expand customer base in data center market with new design wins. Reported double digit revenue growth in automotive sector from new ethernet […]

Marvell Announces $3 Billion Stock Repurchase Authorization。

Marvell Technology, Inc. Reports Fourth Quarter and Fiscal Year 2024 Financial Results PR Newswire SANTA CLARA, Calif., March 7, 2024 — Q4 Net Revenue: $1.427 billion, grew by 1% year-on-year — Q4 Gross Margin: 46.6% GAAP gross margin; 63.9% non-GAAP gross margin — Q4 Diluted income (loss) per share: $(0.45) GAAP diluted loss per share; $0.46 non-GAAP diluted income per share SANTA CLARA, Calif., March 7, 2024 /PRNewswire/ — Marvell Technology, Inc. (NASDAQ: MRVL), a leader in data infrastructure semiconductor solutions, today reported financial results for the fourth fiscal quarter and fiscal year ended February 3, 2024. Net revenue for the fourth quarter of fiscal 2024 was $1.427 billion, above the mid-point of the Company’s guidance provided on November 30, 2023. GAAP net loss for the fourth quarter of fiscal 2024 was $(392.7) million, or $(0.45) per diluted share. Non-GAAP net income for the fourth quarter of fiscal 2024 was

Marvell Technology Guides For Q1 EPS of $0.18-$0.28 on Revenue of $1.15 Billion, +/-5%, Vs CIQ Analyst Consensus of $0.40/Share on Revenue of $1.37 Billion。

By Tae Kim Marvell Technology (MRVL.US) posted earnings results and gave financial guidance below Wall Street expectations, driving the stock lower in post market trading. The semiconductor firm reported adjusted earnings per share of 46 cents for the January quarter, matching the consensus estimate of 46 cents among Wall Street analysts tracked by FactSet. Revenue came in at $1.43 billion, which was about in line with analysts’ expectations of $1.42 billion. The company’s shares fell 10.2% to $76.41 in post-market trading following the release. Management’s financial outlook was disappointing. Marvell forecast a range of potential revenue for the current quarter with a midpoint of $1.15 billion, compared with the consensus view that revenue will be $1.38 billion. “While we are forecasting soft demand impacting consumer, carrier infrastructure, and enterprise networking in the near term, we expect revenue declines in these end markets to be behind us after the first quarter,

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We boost our 12-month target to $84 from $70 on a revised P/E of 30x our CY 25 EPS view, above peers but below historical. We keep our FY 24 (Jan.) EPS view at $1.51, FY 25 at $2.31, and FY 26 at $2.79. Ahead of Jan-Q results set for after the close on 3/7, we look for revenue of $1.42B and EPS of $0.46 (flat for both Y/Y). All eyes will of course be on AI revenue, which is largely driving growth for its data center segment (half of total sales). We note AI revenue appears on pace to blow through its previously guided FY 25 run rate of $800M, on greater momentum from both its optics and custom silicon solutions (about half of total from

Oppenheimer Adjusts Marvell Technology Price Target to $80 From $70, Maintains Outperform Rating.

UBS analyst Timothy Arcuri maintains Marvell Technology (NASDAQ:MRVL) with a Buy and raises the price target from $70 to $83.

Marvell Technology (NASDAQ:MRVL) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/19/2024 13.03% Raymond James $62 → $78 Maintains Outperform 01/16/2024 8.68% Barclays $70 → $75 Maintains Overweight 01/12/2024 8.68% Citigroup $61 → $75 Maintains Buy 12/05/2023 1.43% Barclays $75 → $70 Maintains Overweight 12/01/2023 1.43% UBS $75 → $70 Maintains Buy 12/01/2023 1.43% Piper Sandler $75 → $70 Maintains Overweight 12/01/2023 8.68% Benchmark → $75 Reiterates Buy → Buy 12/01/2023 -5.81% Susquehanna $70 → $65 Maintains Positive 12/01/2023 -8.71% Morgan Stanley $65 → $63 Maintains Equal-Weight 12/01/2023 -10.16% Raymond James $64 → $62 Maintains Outperform 12/01/2023 -5.81% Needham → $65 Reiterates Buy → Buy 12/01/2023 44.91% Rosenblatt → $100 Reiterates Buy → Buy 12/01/2023 1.43% Keybanc $80 → $70 Maintains Overweight 11/30/2023 44.91% Rosenblatt → $100 Reiterates Buy → Buy 11/14/2023 -13.06% Roth MKM → $60 Initiates Coverage On → Buy

Raymond James analyst Srini Pajjuri maintains Marvell Tech (NASDAQ:MRVL) with a Outperform and raises the price target from $62 to $78.

Marvell Technology (NASDAQ:MRVL) stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/16/2024 14.26% Barclays $70 → $75 Maintains Overweight 01/12/2024 14.26% Citigroup $61 → $75 Maintains Buy 12/05/2023 6.64% Barclays $75 → $70 Maintains Overweight 12/01/2023 6.64% UBS $75 → $70 Maintains Buy 12/01/2023 6.64% Piper Sandler $75 → $70 Maintains Overweight 12/01/2023 14.26% Benchmark → $75 Reiterates Buy → Buy 12/01/2023 -0.98% Susquehanna $70 → $65 Maintains Positive 12/01/2023 -4.02% Morgan Stanley $65 → $63 Maintains Equal-Weight 12/01/2023 -5.55% Raymond James $64 → $62 Maintains Outperform 12/01/2023 -0.98% Needham → $65 Reiterates Buy → Buy 12/01/2023 52.35% Rosenblatt → $100 Reiterates Buy → Buy 12/01/2023 6.64% Keybanc $80 → $70 Maintains Overweight 11/30/2023 52.35% Rosenblatt → $100 Reiterates Buy → Buy 11/14/2023 -8.59% Roth MKM → $60 Initiates Coverage On → Buy 08/25/2023 14.26% B of A Securities $80 → $75

Barclays analyst Tom O’Malley maintains Marvell Tech (NASDAQ:MRVL) with a Overweight and raises the price target from $70 to $75.