Marvell Technology, Inc. Reports Second Quarter of Fiscal Year 2022 Financial Results

Marvell (MRVL) Falls on a Weak FQ3 Outlook, Craig-Hallum Downgrades to 'Hold' While Others Remain More Positive

August 27, 2021 10:18 AM EDT

Shares of Marvell Technology (NASDAQ: MRVL) are down almost 4% today after the company delivered slightly weaker-than-expected FQ3 results.

Marvell reported Q2 EPS of $0.34 to beat the analyst estimate of $0.31. Revenue for the quarter came in at $1.08 billion versus the consensus estimate of $1.07 billion.

Growth was driven by the data center, which now represents Marvell's largest end market at 40 percent of total revenue, benefiting from our growing momentum in the fast-growing cloud infrastructure market," said Matt Murphy, Marvells President and CEO.

Marvell Technology projects Q3 EPS of $0.35-$0.41, with the... More

Marvell (MRVL) PT Raised to $57 at Cowen

August 27, 2021 7:53 AM EDT

Cowen analyst Karl Ackerman raised the price target on Marvell (NASDAQ: MRVL) to $57.00 (from $55.00) while maintaining a Market Perform rating following earnings.

The analyst commented, "MRVL exceeded initial JulQ expectations on expense management and guided OctQ consistent with Street expectations. The new reporting... More

Marvell (MRVL) PT Raised to $74 at Stifel

August 27, 2021 6:42 AM EDT

Stifel analyst Tore Svanberg raised the price target on Marvell (NASDAQ: MRVL) to $74.00 (from $70.00) while maintaining a Buy rating following earnings. The analyst highlighted:

Reports nice beat & raise, with record NG GMs of 64.8% and record NG OMs of 30.8%, on broad-based strength... More

Marvell Technology (MRVL) Tops Q2 EPS by 3c

August 26, 2021 4:08 PM EDT

Marvell Technology (NASDAQ: MRVL) reported Q2 EPS of $0.34, $0.03 better than the analyst estimate of $0.31. Revenue for the quarter came in at $1.08 billion versus the consensus estimate of $1.07 billion.

"Marvell delivered record revenue of $1.076 billion in the fiscal second quarter, above the midpoint of guidance,... More