Craig-Hallum Downgrades Marvell (MRVL) to Hold
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August 30, 2021 5:51 AM EDT
Marvell Technology (NASDAQ: MRVL) files up to 1,232,259,000 mixed shelf offering of debt securities, warrants, common stock and units.
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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
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
