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What: Marvell Technology Group
So what: Marvell reported non-GAAP EPS of $0.29, down 24% year over year and below the consensus estimate of $0.30. For the current quarter, management expects non-GAAP EPS of $0.37, plus or minus a couple of pennies, which is above the consensus estimate of $0.34.
Now what: Marvell cited normal seasonal weakness for the first-quarter disappointment and stated that it led the industry in both operating margin and cash flow margin. Guidance for the current quarter calls for the non-GAAP EPS decline to slow to 7% year-over-year and many analysts believe Marvell is at an inflection point. The non-GAAP P/E ratio of 9.4 arguably reflects weakness at hard disk drive customers and large customer Research In Motion
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Fool contributor Cindy Johnson does not own shares of any company named above. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.