Shares of Marvell Technology Group MRVL fell 3.34% after the company reported Q3 results.
Quarterly Results
Earnings per share rose 47.06% year over year to $0.25, which were in line with the estimate of $0.25.
Revenue of $750,143,000 higher by 13.23% year over year, which missed the estimate of $750,970,000.
Guidance
Marvell Sees Q4 Adj. EPS $0.25-$0.33 vs $0.29 Estimate, Sales $785M +/- 5% vs $787.4M Estimate
Conference Call Details
Date: Dec 03, 2020
Time: 04:45 PM
ET Webcast URL: https://edge.media-server.com/mmc/p/xfnjutdj
Recent Stock Performance
52-week high: $47.21
Company's 52-week low was at $16.45
Price action over last quarter: Up 18.73%
Company Description
Marvell Technology designs integrated circuits primarily for data storage, networking, and communications. Historically, the firm focused on storage, where it is still a key supplier to hard-disk drive and solid-state drive makers but has strategically emphasized networking to offset declining HDD technology. The firm has since diversified via acquisitions and supplies chips to the networking and consumer electronic spaces. Marvell outsources its production to third-party foundries.
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