Marvell Technology (MRVL) To Report Earnings Tomorrow: Here Is What To Expect

Adam Hejl /
2023/03/01 4:19 am EST
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Networking chips designer Marvell Technology (NASDAQ: MRVL) will be reporting earnings tomorrow afternoon. Here's what to expect.

Last quarter Marvell Technology reported revenues of $1.54 billion, up 26.9% year on year, missing analyst expectations by 1.29%. It was a weaker quarter for the company, with underwhelming revenue guidance for the next quarter and a miss of the top line analyst estimates.

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 4.91% year on year to $1.41 billion, slowing down from the 68.3% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.47 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. Kulicke and Soffa's revenues decreased 61.8% year on year, missing analyst estimates by 0.15% and FormFactor reported revenue decline of 19% year on year, exceeding estimates by 6.89%. Kulicke and Soffa traded up 1.19% on the results, FormFactor was up 1.97%. Read our full analysis of Kulicke and Soffa's results here and FormFactor's results here.

Investors in the semiconductor manufacturing segment have had steady hands going into the earnings, with the stocks down on average 0.04% over the last month. Marvell Technology is up 5.12% during the same time, and is heading into the earnings with with analyst price target of $61.2, compared to share price of $45.28.

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The author has no position in any of the stocks mentioned.