Marvell

Marvell Technology, Inc. (NASDAQ:MRVL) reported its first-quarter financial results after the bell Thursday. Here’s a look at the highlights from the report. The Details: Marvell reported quarterly earnings of 24 cents per share, which missed the analyst consensus estimate of 25 cents and is a 22.58% decrease from earnings of $0.31 per share from the same period last year. Quarterly sales came in at $1.16 billion which missed the analyst consensus estimate of $1.18 billion and is a 12.18% decrease from sales of $1.32 billion year-over-year. Marvell also reported non-GAAP gross margin of 62.4% for the quarter. “Marvell delivered first quarter fiscal 2025 revenue of $1.161 billion, above the mid-point of guidance, driven by stronger than forecasted demand from AI. Our data center revenue grew 87% year over year, with the start of a ramp in our custom AI programs complementing our substantial base of electro-optics revenue,” said Matt Murphy, Marvell’s chairman and CEO. […]

By Eric J. Savitz Marvell Technology shares are losing ground in late trading Thursday after the chip maker posted April quarter results that edged Street estimates. For the fiscal first quarter, Marvell reported revenue of $1.16 billion, down 12% from a year ago, but slightly ahead of both the company’s forecast and the Street consensus as tracked by FactSet at $1.15 billion. On an adjusted basis, Marvell earned 24 cents a share, a penny above the company’s forecast, but in line with the Street consensus. Adjusted gross margin of 62.4% was within the company forecast of 62% to 63%. Marvell said that the company saw “stronger than forecasted demand” from AI related applications in the quarter. Data center revenue was up 87% from a year ago, Marvell said. For the July quarter, the company sees revenue of $1.25 billion, give or take 5%, slightly above consensus at $1.22 billion, with

Semiconductor company Marvell Technology (NASDAQ:MRVL) is set to report first-quarter financial results after market close on Thursday. Earnings Estimates: Analysts expect Marvell to report first-quarter revenue of $1.18 billion,. The company reported $1.32 billion in revenue in last year’s first quarter. Marvell has exceeded analysts’ revenue estimates in eight of the last 10 quarters, including the past five consecutive quarters. Analysts expect the company to report first-quarter earnings per share of 25 cents, compared to 31 cents reported in last year’s first quarter. The company has beaten analysts’ earnings per share estimates in seven of the last 10 quarters, with the fourth quarter results coming in-line with estimates. Marvell previously guided for first-quarter revenue to be $1.15 billion, plus or minus 5%. The company also guided for adjusted first-quarter earnings per share of 23 cents, plus or minus 5 cents per share.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: MRVL hosted its Accelerated Infrastructure for the AI Era event where it highlighted an objective to double its market share by 2028 (10% in 2023), led by share gain in the custom compute and switching markets, which we think has the potential to grow MRVL’s revenue by at least 3x-4x in five years. MRVL estimates that its TAM will rise at a 29% CAGR through CY 28 to $75B (estimated $21B in 2023), with accelerated custom compute at a 45%+ CAGR and switching at 15%+. On the connectivity side, AI workloads are demanding a doubling of interconnect speed every two years, or half the time to pre-ChatGPT (2x every four years). On the compute side, we see design wins from existing/new hyperscale customers and greater momentum for

Goldman Sachs analyst Toshiya Hari maintains Marvell Tech with a Buy and raises the price target from $74 to $84.

Keybanc analyst John Vinh maintains Marvell Tech (NASDAQ:MRVL) with a Overweight and raises the price target from $70 to $95.

Marvell Technology’s (MRVL) shares were 5.7% lower in premarket Friday after dropping as much as 10% in late-hours trading on Thursday, following the company’s fiscal Q4 results that showed its Q1 earnings forecast missed estimates and the board expanded a share buyback program. The company reported fiscal Q4 adjusted earnings late Thursday of $0.46 per diluted share, unchanged from a year earlier. Analysts polled by Capital IQ estimated 0.46 per share. Revenue for the quarter ended Feb. 3 was $1.43 billion, up from $1.42 billion a year earlier. Analysts surveyed by Capital IQ forecast $1.42 billion. The chipmaker said it projects fiscal Q1 adjusted EPS of $0.18 to $0.28 on revenue of $1.15 billion, plus or minus 5%. Analysts polled by Capital IQ are looking for an adjusted EPS of $0.40 and revenue of $1.37 billion. Separately, Marvell said its board approved a $3 billion increase in its stock repurchase

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We up our 12-month target price to $94 from $84 on a higher revised P/E of 34.8x our CY 25 EPS view, above peers but within five-year historical forward average. We adjust our FY 25 (Jan.) EPS view to $1.82 from $2.31 and FY 26 to $2.70 from $2.79. MRVL posts Jan-Q EPS of $0.46 vs. $0.46, matching the consensus. Although MRVL again provided disappointing guidance, we finally believe non data center markets are set to bottom in the Apr-Q at extremely depressed levels, with steeper seq. declines in carrier (-50%), enterprise networking (-40%), and consumer (-70%). All end-markets are poised to recover thereafter. AI-related revenue drove data center upside, up 54% (+38% seq.), and we think its pipeline offers upside given opportunities tied to its Optics

By Emily Dattilo Marvell Technology’s financial outlook was disappointing for investors, but Wall Street strategists are recommending patience. When the semiconductor firm reported fourth-quarter earnings on Thursday, it said it expects revenue with a midpoint of $1.15 billion for the current quarter, lower than the $1.38 billion analysts had penciled in. “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, and project a recovery in the second half of the fiscal year,” CEO Matt Murphy said. Traders weren’t thrilled with the guidance, sending shares down 6% to $80.02 in premarket trading. Meanwhile, analysts channeled a more long-term and upbeat view. Needham researchers led by N. Quinn Bolton raised their price target on shares to $95 from $65 and maintained a Buy rating in a Friday report.

Needham analyst Quinn Bolton maintains Marvell Tech with a Buy and raises the price target from $65 to $95.