Image source: Marvell.

On Thursday night's release of fourth-quarter results, shares of Marvell Technology Group (NASDAQ:MRVL) lost the regular session's 2.3% gains. But don't cry for Marvell shareholders, as the stock had gained 71% over the last year, and 21% in the last three months alone, setting the stock up for a correction tonight.

The communications microchip designer reported non-GAAP earnings of $0.29 per share on $932 million in revenue. That's a 20% year-over-year sales boost, and 53% stronger earnings per share.

Marvell surpassed analyst targets on both the top and bottom lines. Wall Street firms were looking for earnings near $0.25 per share on roughly $900 million sales. Free cash flows fell 49%, to $82 million.

Looking ahead, Marvell's earnings guidance for the first quarter is largely in line with Wall Street's current $0.21 estimate, though the $870 to $910 million revenue range sits far above the Street's $850 million target.

"Fiscal year 2014 was the start of a turnaround for Marvell," said Marvell CEO Sehat Sutardja in a prepared statement. "We are investing in advanced technologies that will help drive increased business opportunities and continued revenue and profit growth in all of our target end markets."