News Spotlight – Marvell Technology Group Ltd. (NASDAQ:MRVL) Swings Under Earnings Report

Marvell Technology Group Ltd. (NASDAQ:MRVL) has market worth of 12.00B along 493.58M outstanding shares. The stock moved 2.66% to $24.32 in recent session. The recent traded volume was 17008180 shares. The stock had closed at $23.69 on the previous day. The stock has recorded a weekly performance of 4.33% and monthly performance is 12.07%.

Marvell Technology Group Ltd. (NASDAQ:MRVL) recently announced financial results for the fourth fiscal quarter and the full fiscal year, ended February 3, 2018. Revenue for the fourth quarter of fiscal 2018 was $615 million, which exceeded the midpoint of the Company’s guidance provided on November 28, 2017.

GAAP net income from continuing operations for the fourth quarter of fiscal 2018 was $49 million, or $0.10 per share. Non-GAAP net income from continuing operations for the fourth quarter of fiscal 2018 was $165 million, or $0.32 per diluted share. Cash flow from operations for the fourth quarter was $120 million.

Marvell President and CEO Matt Murphy said “Our strong fourth quarter and fiscal year results continue to demonstrate that Marvell’s strategy is working and that our team is executing it very well”. “We are making tremendous progress in the transformation of Marvell, and I look forward to the year ahead.”

First Quarter of Fiscal 2019 Financial Outlook

  • Revenue is expected to be $585 million to $615 million.
  • GAAP and non-GAAP gross margins are expected to be approximately 62% to 63%.
  • GAAP operating expenses are expected to be $250 million to $260 million.
  • Non-GAAP operating expenses are expected to be approximately $215 million.
  • GAAP diluted EPS from continuing operations is expected to be in the range of $0.22 to $0.26 per share.
  • Non-GAAP diluted EPS from continuing operations is expected to be in the range of $0.29 to $0.33 per share.

Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) have moved 10.70% over the last quarter and changed 38.10% over the recent six months. The shares registered yearly performance at 53.54% and YTD move seen at 13.27%. The stock made income 290.00M on sales of 2.38B. ROI is 0.70%. Shares have moved 0.41% from its 1 Year high price and changed 66.80% from its 1 Year low price. The shares registered RSI (14) at 69.27 and ATR factor was seen at 0.66.”

 

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