Stock Review Report: Marvell Technology Group Ltd. (NASDAQ: MRVL)

In Technology sector, shares of Marvell Technology Group Ltd. (NASDAQ: MRVL) were valued at $22.10 and moved 0.00% as of a recent closing trade. A total volume of 0 shares traded versus to average volume of 9209.70 shares. Marvell Technology Group Ltd. (MRVL) shares have been seen trading -12.23% off its 52 week- peak value and changed 48.62% from its 52 week-bottom price value.

Marvell Technology Group Ltd. (NASDAQ: MRVL), a leader in storage, networking and connectivity semiconductor solutions, recently stated financial results for the first fiscal quarter of fiscal year 2019. Revenue for the first quarter of fiscal 2019 was $605M, which exceeded the midpoint of the Company’s guidance provided on March 8, 2018.

GAAP net income from continuing operations for the first quarter of fiscal 2019 was $129M, or $0.25 per diluted share. Non-GAAP net income from continuing operations for the first quarter of fiscal 2019 was $165M, or $0.32 per diluted share. Cash flow from operations for the first quarter was $129M.

Second Quarter of Fiscal 2019 Financial Outlook

Revenue is predictable to be $600M to $630M. The guidance range excludes about $7M in revenue from a Chinese OEM Because of the trade restrictions imposed by the U.S. government.

GAAP and non-GAAP gross margins are predictable to be about 63% to 64%.

GAAP operating expenses are predictable to be $260M to $270M.

Non-GAAP operating expenses are predictable to be about $210M.

GAAP diluted EPS from continuing operations is predictable to be in the range of $0.22 to $0.26 per share.

Non-GAAP diluted EPS from continuing operations is predictable to be in the range of $0.32 to $0.36 per share.

Marvell first revolutionized the digital storage industry by moving information at speeds never thought possible. Recently, that same breakthrough innovation remains at the heart of the Company’s storage, networking and connectivity solutions.

MRVL price volatility for a month noted as 2.78% however its price volatility for a week documented as 2.17%. The corporation holds 646.66 million outstanding shares and its 623.98 million shares were floated in the market. The stock established a positive trend of 4.25% in last week and indicated fall of -2.47% in previous month.

 

Paul Suggs

Paul Suggs provides the U.S. as well as global markets news for Streetobserver.com. He writes about the global market, politics, technology and healthcare news. He also covers latest activity, events and trends, economic reports and financial indicators relating to global market and US market. Paul now lives in Dallas Texas where he works from home as a freelance writer for many financial websites and publications.

Leave a Reply

Your email address will not be published. Required fields are marked *