Marvell Technology Group Ltd. (NASDAQ:MRVL) is reporting second quarter financial results on Thursday 27th August 2020, after market close.
According to analysts surveyed by Thomson Reuters, MRVL is expected to report 2Q21 income of $ 0.20 per share from revenue of $ 727.45 million.
For the full year, analysts anticipate top line of $ 3025.65 million, while looking forward to income of $ 0.92 per share bottom line.
The Company Outlook
Revenue for 2Q21 are expected in a range of $ 684.00 million ~ $ 756.00 million
Click Here For More Historical Outlooks Of Marvell Technology Group Ltd.
Previous Quarter Performance
Marvell Technology Group Ltd. revealed income for the first quarter of $ 0.18 per share, from the revenue of $ 693.64 million. The quarterly earnings up 12.50 percent compared with the same quarter last year. The consensus estimates are income of $ 0.14 per share from $ 678.70 million in revenue. The bottom line results beat street analysts by $ 0.04 or 28.57 percent, at the same time, top line results outshined analysts by $ 14.94 million or 2.20 percent.
Stock Performance
Shares of Marvell Technology Group Ltd. traded up $ 0.40 or 1.14 percent on Wednesday, reaching $ 35.61 with volume of 6.61 million shares. Marvell Technology Group Ltd. has traded high as $ 35.83 and has cracked $ 35.15 on the downward trend
The closing price of $ 35.61, representing a 114.04 % increase from the 52 week low of $ 16.45 and a 10.63 % decrease over the 52 week high of $ 39.40.
The company has a market capital of $ 23.69 billion and is part of the Technology sector and Semiconductors industry.
Recent Analyst recommendations
- On 3rd August 2020, maintained by Bank of America at Buy rating, with $ 50.00 target price.
- On 20th July 2020, maintained by Barclays at Overweight rating, with $ 40.00 target price.
- On 15th July 2020, downgraded by Wells Fargo & Co to Equal-Weight from Overweight rating.
- On 29th June 2020, maintained by UBS Group at Buy rating, with $ 38.00 target price.
Recent Stock Dividend Announcement
On June 25, 2020, the board of directors authorized quarterly dividend of $ 0.06 per share to holders of record as of the close of business on July 13, 2020, with payment date of July 29, 2020 and ex-dividend date on July 10, 2020.
Conference Call
Marvell Technology Group Ltd. will be hosting a conference call at 4:45 PM eastern time on 27th August 2020, to discuss its 2Q21 financial results with the investment community. The participants may dial, 1-844-647-5488 U.S., and the passcode is 9776144 in order to access the live audio call. A live webcast with presentations will be available on the Internet by visiting the Company website edge.media-server.com/mmc/p/iapnzzdn
Marvell Technology Group Ltd. designs, develops, and markets analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a range of storage products, including hard disk drive (HDD) and solid-state drive controllers, as well as preamplifiers; supports a variety of host system interfaces consisting of serial attached SCSI (SAS), serial advanced technology attachment (SATA), peripheral component interconnect express, and non-volatile memory express; and develops software-enabled silicon solutions comprising SATA port multipliers, bridges, SATA, SAS, and non-volatile memory express redundant array of independent disks controllers and converged storage processors for enterprises, data centers, and cloud computing businesses.
