Marvell Technology (MRVL) Tops Q2 EPS by 3c
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Marvell (MRVL) Falls on a Weak FQ3 Outlook, Craig-Hallum Downgrades to 'Hold' While Others Remain More Positive
August 27, 2021 10:18 AM EDTShares 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 EDTCowen 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 EDTStifel 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