Networking chips designer Marvell Technology (NASDAQ: MRVL) will be reporting results tomorrow after market close. Here’s what you need to know.
Marvell Technology beat analysts’ revenue expectations by 3.8% last quarter, reporting revenues of $1.52 billion, up 6.9% year on year. It was a very strong quarter for the company, with a significant improvement in its inventory levels and a solid beat of analysts’ adjusted operating income estimates.
Is Marvell Technology a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Marvell Technology’s revenue to grow 26% year on year to $1.80 billion, improving from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $0.59 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Marvell Technology has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Marvell Technology’s peers in the semiconductor manufacturing segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Kulicke and Soffa’s revenues decreased 3% year on year, beating analysts’ expectations by 0.7%, and Nova reported revenues up 45.1%, topping estimates by 2.3%. Kulicke and Soffa’s stock price was unchanged after the resultswhile Nova was up 9.2%.
Read our full analysis of Kulicke and Soffa’s results here and Nova’s results here.
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