Marvell Technology Group
The 10-second takeaway
For the quarter ended May 4 (Q1), Marvell Technology Group beat slightly on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped. Non-GAAP earnings per share shrank significantly. GAAP earnings per share dropped significantly.
Gross margins expanded, operating margins contracted, net margins dropped.
Marvell Technology Group logged revenue of $734.4 million. The 29 analysts polled by S&P Capital IQ anticipated revenue of $721.6 million on the same basis. GAAP reported sales were 7.8% lower than the prior-year quarter's $796.4 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.19. The 29 earnings estimates compiled by S&P Capital IQ averaged $0.14 per share. Non-GAAP EPS of $0.19 for Q1 were 17% lower than the prior-year quarter's $0.23 per share. GAAP EPS of $0.11 for Q1 were 31% lower than the prior-year quarter's $0.16 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 54.3%, 30 basis points better than the prior-year quarter. Operating margin was 5.8%, 600 basis points worse than the prior-year quarter. Net margin was 7.2%, 470 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $787.5 million. On the bottom line, the average EPS estimate is $0.19.
Next year's average estimate for revenue is $3.20 billion. The average EPS estimate is $0.83.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,383 members out of 1,464 rating the stock outperform, and 81 members rating it underperform. Among 301 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 284 give Marvell Technology Group a green thumbs-up, and 17 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Marvell Technology Group is hold, with an average price target of $10.62.
Is Marvell Technology Group the best semiconductor stock for you? You may be missing something obvious. Check out the semiconductor company that Motley Fool analysts expect to lead "The Next Trillion-dollar Revolution." Click here for instant access to this free report.
- Add Marvell Technology Group to My Watchlist.