Marvell Technology Group (MRVL) to Release Quarterly Earnings on Thursday
Marvell Technology Group (NASDAQ:MRVL) is set to issue its Q215 quarterly earnings data on Thursday, August 21st. Analysts expect the company to announce earnings of $0.28 per share and revenue of $961.56 million for the quarter. Marvell Technology Group has set its Q2 guidance at $0.26-0.30 EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.
Marvell Technology Group (NASDAQ:MRVL) last announced its earnings results on Thursday, May 22nd. The company reported $0.27 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.22 by $0.05. The company had revenue of $957.83 million for the quarter, compared to the consensus estimate of $892.25 million. During the same quarter last year, the company posted $0.19 earnings per share. Marvell Technology Group’s revenue was up 30.4% compared to the same quarter last year. On average, analysts expect Marvell Technology Group to post $1.15 EPS for the current fiscal year and $1.20 EPS for the next fiscal year.
Shares of Marvell Technology Group (NASDAQ:MRVL) opened at 13.49 on Wednesday. Marvell Technology Group has a 52 week low of $10.87 and a 52 week high of $16.65. The stock has a 50-day moving average of $13.75 and a 200-day moving average of $14.99. The company has a market cap of $6.856 billion and a price-to-earnings ratio of 18.89.
MRVL has been the subject of a number of recent research reports. Analysts at MKM Partners cut their price target on shares of Marvell Technology Group from $19.00 to $17.00 in a research note on Monday. They now have a “buy” rating on the stock. On the ratings front, analysts at Standpoint Research upgraded shares of Marvell Technology Group from a “hold” rating to a “buy” rating in a research note on Thursday, August 14th. They now have a $17.00 price target on the stock. Finally, analysts at Zacks downgraded shares of Marvell Technology Group from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 23rd. They now have a $17.10 price target on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $16.65.
Marvell Technology Group Ltd. (NASDAQ:MRVL) is a fabless semiconductor provider of application-specific standard products.
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