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Marvell Technology Group, Ltd. (MRVL)

  • Aug. 4, 2012, 5:11 PM
    China made up 27% of Q2 smartphone sales (the slowing U.S. was at 16%), says Canalys, with its 199% Y/Y growth far outpacing the 24% seen elsewhere. Samsung (SSNLF.PK) and Apple (AAPL) are doing well in China, though the iPhone's high price makes it dependent on wealthier (and perhaps slower-growing) coastal provinces. But NOK and others are having trouble competing with local vendors. Chipmakers SPRD, MRVL, and QCOM have decent Chinese exposure. (Q1 data)
    | Aug. 4, 2012, 5:11 PM | 1 Comment
  • Jul. 30, 2012, 5:29 PM
    Seagate (STX) guides on its FQ4 earnings call (webcast) for FQ1 revenue of $4B, -11% Q/Q and easily below a $4.62B consensus. Gross margin is expected to fall another 360 bps Q/Q to 30%. The numbers contrast greatly with Western Digital's strong FY13 forecast. STX now -7.1% AH. WDC -1.6%. Chip suppliers LSI and Marvell (MRVL - previous) could also see weakness. Also: Seagate has hired Micron (MU) enterprise solid-state drive (SSD) chief Gary Gentry to run its SSD unit.
    | Jul. 30, 2012, 5:29 PM | Comment!
  • Jul. 30, 2012, 1:55 PM
    Hard drive controller chip vendors Marvell (MRVL -2.1%) and LSI (LSI -1.7%) slump after Williams Financial cuts its estimates on Marvell due to widespread signs of softening PC demand. Williams is also worried about slowing orders for Marvell's TD-SCDMA baseband chips, used in phones running on China Mobile's 3G network. LSI took off on Thursday following a Q2 beat. Seagate, a major Marvell and LSI customer, reports after the close.
    | Jul. 30, 2012, 1:55 PM | Comment!
  • Jul. 26, 2012, 11:00 AM
    LSI rises 20.8% after reporting Q2 revenue of $659.6M and EPS of $0.21, beating Street estimates by $15.8M and $0.04. Q3 guidance (revenue of $620M-$660M and EPS of $0.14-$0.20 vs. consensus of $657.4M and $0.18) is nothing special, but as with many other chipmakers, expectations have been low. LSI is also getting a lift from customer Western Digital's strong results and guidance, and from upgrades from CLSA and Credit Agricole. Rival MRVL +3.8%. (transcript)
    | Jul. 26, 2012, 11:00 AM | Comment!
  • Jul. 26, 2012, 9:12 AM
    Premarket gainers: GENE +33%. PSDV +24%. IBIO +21%. S +18%. WDC +17%. AKAM +16%. PCS +14%. TEX +13%. FTNT +13%. STX +11%. WFM +11%. GNC +8%. UN +7%. CROX +7%. BBVA +7%. PHM +7%. SVU +6%. SAN +6%. PSTI +6%. EQIX +6%. ABB +6%. IOC +6%. AEM +6%. FTE +6%. MRVL +6%. NOK +5%. OVTI +5%.
    Losers: ZNGA -40%. NG -29%. STRA -17%. GLUU -8%. IPG -6%. ESI -7%. GRPN -6%. FB -6%. ALU -6%. STB -6%. ABX -5%. LVS -5%.
    | Jul. 26, 2012, 9:12 AM | 1 Comment
  • Jul. 25, 2012, 5:26 PM
    Western Digital (WDC) guides on its FQ4 conference call for FQ1 EPS of $2.45-$2.55 and FY13 EPS of $10. The former is only in-line, but the latter is well above an $8.06 consensus. The guidance demonstrates WDC's quick recovery from Thai manufacturing disruptions, and perhaps also the benign pricing environment that stems from WDC and Seagate's near-duopoly status. WDC now +18.1% AH. STX +10.6%. HTCH +6.1%. LSI +3%. MRVL +4.7%. (PR)
    | Jul. 25, 2012, 5:26 PM | 1 Comment
  • Jul. 23, 2012, 11:22 AM
    Spreadtrum (SPRD +3.5%) rallies following a report claiming it has secured a number of design wins for Samsung TD-SCDMA 3G phones that will be sold by China Mobile. Digitimes adds the design wins have come at the expense of archrival MediaTek, and that Spreadtrum has a lead on MediaTek in developing quad-core processors and 4G baseband chips. Marvell (MRVL) is also a major rival in the TD-SCDMA market. The report comes as Spreadtrum announces a design win for a Huawei phone.
    | Jul. 23, 2012, 11:22 AM | Comment!
  • Jul. 9, 2012, 6:44 PM
    Chinese smartphone shipments rose 164% Y/Y in Q1 to 33.1M, estimates Gartner. Those figures contrast sharply with the decelerating growth seen in the U.S. and Europe. The iPhone (AAPL) is believed to have made up 17.3% of shipments, and Android (GOOG) devices 69.5%. Separately, the Chinese government estimates 107M of the 190M phones shipped domestically in Q1 were 3G models - that's a positive for baseband chipmakers QCOM and MRVL.
    | Jul. 9, 2012, 6:44 PM | 2 Comments
  • Jul. 6, 2012, 1:27 PM
    Texas Instruments (TXN) is working on optimizing its network processors for the budding OpenFlow standard. OpenFlow, based on the concept of software-defined networking (SDN), threatens sales of proprietary Ethernet switches from Cisco (CSCO) and others through its reliance on off-the-shelf chips and open standards. TI's embrace of OpenFlow could help it better compete against market leaders Broadcom (BRCM) and Marvell (MRVL).
    | Jul. 6, 2012, 1:27 PM | Comment!
  • Jun. 28, 2012, 4:46 PM
    Research In Motion (RIMM) has resumed trading following its giant FQ1 miss and layoff announcement. Shares are down 15.9% AH. The company's market cap is now barely above $4B. Mobile component suppliers such as Skyworks (SWKS), Broadcom (BRCM), Qualcomm (QCOM), and Marvell (MRVL) are off slightly AH.
    | Jun. 28, 2012, 4:46 PM | 11 Comments
  • Jun. 28, 2012, 2:52 PM
    In addition to ThinkEquity and JPMorgan, Barclays' Ben Reitzes has issued a downbeat note about Seagate (STX -6.6%) and Western Digital (WDC -4.6%). Reitzes says checks indicate PC build activity was weaker than expected in Q2, and thinks notebook drive sales could disappoint. Also: hard drive assembly supplier Hutchinson (HTCH -11.7%) has issued a June quarter warning. Hard drive chipmakers LSI (LSI -3.7%) and Marvell (MRVL -3.4%) are also underperforming. (previous)
    | Jun. 28, 2012, 2:52 PM | Comment!
  • Jun. 27, 2012, 9:11 AM
    Northland Securities launches coverage on the chip industry. AMD, MRVL, QLGC, BRCM, NVDA, EZCH, and ELX are started at Outperform. INTC, TXN, and PMCS are started at Market Perform.
    | Jun. 27, 2012, 9:11 AM | Comment!
  • Jun. 25, 2012, 4:29 PM
    Seagate (STX) is making an investment in DensBits, a developer of solid-state drive (SSD) controllers. The companies are also forming a partnership that will result in DensBits' controllers, which promise to make inexpensive TLC flash memory perform as well as more costly MLC flash, being used in Seagate's SSDs. Controller IP is a key way for SSDs to differentiate themselves - hence Apple's purchase of Anobit.. Marvell (MRVL) is the top independent supplier of SSD controllers.
    | Jun. 25, 2012, 4:29 PM | 1 Comment
  • Jun. 5, 2012, 5:52 PM
    As Nvidia and Asus demo an ARM-based (ARMH) Windows 8 tablet at Computex, Taiwan's MiTAC is announcing the first generally-available ARM server; like Dell's (DELL) ARM servers, which are available only to select customers, MiTAC's system relies on Marvell's (MRVL) Armada processors. ARM has set a goal of taking 5%-10% of the server CPU market, which is dominated by Intel's (INTC) Xeon and (to a lesser extent) AMD's Opteron chips, by 2016
    | Jun. 5, 2012, 5:52 PM | Comment!
  • Jun. 5, 2012, 4:49 PM
    Marvell (MRVL +2.3%) rallied today on an upgrade to Market Perform from JMP's Alex Gauna, who sees the flurry of new hardware releases at Computex as a positive for the company, given its leading position in the market for hard drive controller chips (ed: LSI also figures prominently). Gauna also likes Marvell's recently-announced dividend, but is worried about a lull in PC demand ahead of Windows 8's fall launch, and Apple's growing use of solid-state drives. (earlier)
    | Jun. 5, 2012, 4:49 PM | Comment!
  • Jun. 4, 2012, 10:47 AM
    After visiting Silicon Valley chipmakers, Canaccord's Bobby Burleson believes the recent selloff in chip stocks is overdone. While admitting demand is soft for the PC and wireline telecom markets, total orders, buoyed by healthy smartphone/tablet demand, are said to be in-line with expectations. Burleson's top picks are AMD, BRCM, IDTI, and MRVL.
    | Jun. 4, 2012, 10:47 AM | 2 Comments
Company Description
Marvell Technology Group Ltd is a fabless semiconductor provider of analog, mixed-signal, digital signal processing and embedded microprocessor integrated circuits.