MRVL Stock: Marvel Technology tops list of fourth quarter targets

Marvel Technology (MRVLShares traded lower on Friday, although Chipmaker broke analyst expectations for the fourth quarter of its fiscal year and led higher for the current period. MRVL shares fluctuate between moderate gains and losses.




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Late Thursday, the California-based Santa Clara reported 50 cents a share adjusted to $ 1.34 billion in sales for the quarter ended Jan. 29. Analysts expect Marvel to earn 48 cents on a $ 1.32 billion share sale. To FactSet. On a year-over-year basis, Marvel’s revenue rose 72%, while sales rose 68%.

For the current quarter, Marvel expects to earn a modified 51 cents per share on $ 1.425 billion in sales. It is based on the middle part of its guidance. Analysts reported 49 cents a share on sales of $ 1.38 billion in the first quarter of the fiscal year, according to FactSet. Marvel’s outlook translates to 76% year-on-year revenue growth and 71% sales.

“Revenue in all five of our final markets grew in the fourth quarter, with strong contributions from the cloud, 5G and auto, representing 40% of total revenue,” CEO Matt Murphy said in a statement. News release.

Marvel manufactures networking and data storage chips used in cloud computing, automotive, communications and other applications.

MRVL Stock Seesaws After Report

“In addition, our enterprise networking end market has become another growth pillar, driven by 64% year-on-year growth and our content gains and share increases as companies continue to adapt their infrastructure to meet the needs of highly flexible, hybrid needs,” Murphy said.

On top of that The stock market today, MRVL stock aborted. In recent trading, it was down 1.7% to close at 64.10. During the regular session on Thursday, MRVL shares fell 3.7% to close at 65.20.

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Earlier in Friday’s session, MRVL stock tried to regain its 200-day moving average tax.

MRVL ranks 11th out of 30 shares in IBD’s Fables Semiconductor Industry Group. IBD stock verification. This is a IBD Joint Assessment 99 out of 89. IBD’s collective valuation is a combination of key fundamental and technical benchmarks that help investors measure the strength of stocks. The best growth stocks have a combined rating of 90 or more.

Follow Patrick Seitz on Twitter @IBD_PSeitz For more stories about consumer technology, software and semiconductor stocks.

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