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Marvell Technology results beat Q1 expectations

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Miguel A. Rodriguez
Miguel A. Rodriguez
09 June 2021
The developer and producer of semiconductors and related technology posted first quarter 2022 results that surpassed expectations

Marvell Technology revealed an EPS of 29 cents on revenues of $832.3 million. Both figures came in higher than what analysts expected. They anticipated an EPS of 27 cents and $805.8 million in revenues.

For the future, Marvel is looking for earnings-per-share between 28 cents – 34 cents, on revenue of $1.06 billion. While Wall Street's expectation for an EPS falls in the company's range – 30 cents – the same cannot be said about the revenue, expected to come in at $840.2 million. "Marvell's outlook for strong revenue growth in the second quarter highlights robust demand across all our key end markets. I have never felt stronger about our prospects and believe that we are at the beginning of a multi-year growth cycle," stated the company.

The improved figures are expected to be driven by Inphi, the company Marvell acquired about ten days before the end of the quarter.

At the moment of writing, Marvell Technology stock price added more than 6% during pre-market trading.

 Sources: seekingalpha.com, thestreet.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.