Marvell Technology (MRVL) Q4 Earnings: What To Expect

Adam Hejl /
2024/03/06 2:01 am EST

Networking chips designer Marvell Technology (NASDAQ: MRVL) will be reporting earnings tomorrow after market hours. Here's what to look for.

Last quarter Marvell Technology reported revenues of $1.42 billion, down 7.7% year on year, beating analyst revenue expectations by 1.3%. It was a weak quarter for the company, with underwhelming revenue guidance for the next quarter and a decline in its gross margin.

Is Marvell Technology buy or sell heading into the earnings? Read our full analysis here, it's free.

This quarter analysts are expecting Marvell Technology's revenue to grow 0.3% year on year to $1.42 billion, slowing down from the 5.6% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.46 per share.

Marvell Technology Total Revenue

Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates twice over the last two years.

Looking at Marvell Technology's peers in the semiconductor manufacturing segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. Entegris's revenues decreased 14.1% year on year, beating analyst estimates by 4% and Lam Research reported revenue decline of 28.8% year on year, exceeding estimates by 1.4%. Entegris traded up 2.3% on the results, and Lam Research was down 3.5%.

Read our full analysis of Entegris's results here and Lam Research's results here.

There has been positive sentiment among investors in the semiconductor manufacturing segment, with the stocks up on average 8.7% over the last month. Marvell Technology is up 18.7% during the same time, and is heading into the earnings with analyst price target of $75.1, compared to share price of $79.6.

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