Seeking Alpha

Marvell FQ3 guidance solid, shares +1.3% AH

  • Marvell (MRVL) expects FQ3 revenue of $850M-$900M and EPS of $0.25 (+/- $0.02), favorable to a consensus of $845.2M and $0.24.
  • The chipmaker attributes its FQ2 beat to "better demand and share gains" for storage chips, and "strong double-digit growth" for mobile/wireless chip sales.
  • Gross margin was 53%, -160 bps Q/Q and -60 bps Y/Y. GM is expected to fall to 51% (+/- 100 bps) in FQ3.
  • $83M was spent to repurchase 7.2M shares. 211M shares (~30% of outstanding shares) have been repurchased over the last 12 months. Thank David Einhorn for that.
  • Marvell's strong YTD performance seems to be limiting its AH move. Also, the chipmaker's gross margin guidance might be disappointing some investors.
  • CC at 4:45PM ET. FQ2 results, PR
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector