Marvell Technology Group Should Post A Solid In-Line October

This Morning, Lazard Capital Markets maintains their “Outperform” rating for Marvell Technology Group Ltd. (NASDAQ: MRVL), while lowering their estimates for the company.

The Firm said “We are forecasting revenue and EPS of $767.4M and $0.27, in line with the Street. Marvell preannounced positively in late Oct. The co revised guidance to $760-$775M (from $680- $730M). We believe that strength from HDD was the major factor. MRVL also announced a one-time tax benefit that will result in a GAAP tax benefit of ~$25M, or ~$0.05 per share.”

The Firm revised their FY10 EPS to $0.78 from prior $0.79, FY11 EPS also revised to $1.09 from $1.13 earlier.

MRVL will hold its earnings call on Dec. 3, at 4:30.