Marvell Technology Group (MRVL) Set to Announce Earnings on Thursday
Marvell Technology Group (NASDAQ:MRVL) is set to release its earnings data on Thursday, May 22nd. Marvell Technology Group has set its Q1 guidance at $0.20-0.24 EPS.Parties that wish to register for the company’s conference call can do so using this link.
Marvell Technology Group (NASDAQ:MRVL) last released its earnings data on Thursday, February 20th. The company reported $0.29 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.25 by $0.04. The company had revenue of $931.70 million for the quarter, compared to the consensus estimate of $901.13 million. On average, analysts expect Marvell Technology Group to post $1.07 EPS for the current fiscal year and $1.18 EPS for the next fiscal year.
Shares of Marvell Technology Group (NASDAQ:MRVL) opened at 15.27 on Wednesday. Marvell Technology Group has a 1-year low of $10.57 and a 1-year high of $16.65. The stock has a 50-day moving average of $15.62 and a 200-day moving average of $14.89. The company has a market cap of $7.687 billion and a P/E ratio of 24.79.
A number of analysts have recently weighed in on MRVL shares. Analysts at Morgan Stanley initiated coverage on shares of Marvell Technology Group in a research note on Friday, May 2nd. They set an “equal weight” rating and a $20.87 price target on the stock. On a related note, analysts at Zacks upgraded shares of Marvell Technology Group from a “neutral” rating to an “outperform” rating in a research note on Tuesday, April 22nd. They now have a $17.10 price target on the stock. Finally, analysts at TheStreet upgraded shares of Marvell Technology Group from a “hold” rating to a “buy” rating in a research note on Wednesday, March 19th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $15.87.
Marvell Technology Group Ltd. (NASDAQ:MRVL) is a fabless semiconductor provider of application-specific standard products.
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