Marvell Technology Inc reports results for the quarter ended April 30 - Earnings Summary

• Marvell Technology Inc MRVL.OQ reported quarterly adjusted earnings of 62 cents​​ per share for the quarter ended April 30, higher than the same quarter last year, when the company reported EPS of 24 cents. The mean expectation of thirty analysts for the quarter was for earnings of 61 cents per share. Wall Street expected results to range from 60 cents to 64 cents per share.
• Revenue rose 63.3% to $1.90 billion from a year ago; analysts expected $1.88 billion.
• Marvell Technology Inc's reported EPS for the quarter was 20 cents​.
• The company reported quarterly net income of $177.9 million.
• Marvell Technology Inc shares had risen by 4.9% this quarter and lost 41.5% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 2.2% in the last three months.​
• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 34 "strong buy" or "buy," 6 "hold" and no "sell" or "strong sell." The average consensus recommendation for the semiconductors peer group is also "buy"
• Wall Street's median 12-month price target for Marvell Technology Inc is $95.50

This summary was machine generated from LSEG data May 30 at 12:00 a.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)