Form 8-K MARVELL TECHNOLOGY GROUP For: Sep 11
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Go back to Form 8-K MARVELL TECHNOLOGY GROUP For: Sep 11
September 11, 2015 3:20 PM EDT
Cowen maintained an Outperform rating on Marvell (NASDAQ: MRVL) but cut its price target to $14.00 (from $16.00). Analyst Timothy Arcuri said the company's press release related to accounting issues was "one of the most cryptic releases we have seen in 20yrs on the sell... More
September 11, 2015 6:24 AM EDT
Marvell Technology (NASDAQ: MRVL) reported Q2 EPS of ($0.74), $0.85 worse than the analyst estimate of $0.11. Revenue for the quarter came in at $711 million versus the consensus estimate of $725.01 million.
The Company also announced that the Audit Committee of the Companys Board of Directors is conducting an independent investigation of certain accounting and internal control matters in the second quarter of fiscal 2016. Senior management has cooperated fully with the Audit Committees investigation, and is fully committed to supporting the Audit Committee in this process.
The investigation consists of a review of certain... More
