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MRVL

Marvell Technology Group, Ltd.

5/23/2013, 5:27 AM ET

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Wednesday, August 22, 2012, 6:26 PM The Chinese mobile baseband chip market is getting crowded: Broadcom (BRCM) says it's is working to build relationships with Chinese smartphone OEMs, including fast-growing ZTE (ZTCOY.PK), and is developing chips for phones that run on China Mobile's TD-SCDMA 3G network. Broadcom's moves will put the company into more direct competition with Spreadtrum (SPRD) and MediaTek, and open up a new area of competition with Qualcomm (QCOM) and Marvell (MRVL). (previous) Comment! [Tech]
Tuesday, August 21, 2012, 10:04 AM Marvel (MRVL) and SanDisk (SNDK), rivals in the solid-state drive (SSD) controller space, are partnering to offer a low-power server solution that features an ARM-based Marvell processor and a SanDisk SSD. Marvell is aggressively targeting the young ARM server market, and has already reached deals with Dell and Taiwan's MiTAC. Also: Marvell is announcing the general availability of its praised DragonFly flash caching solution, which competes with offerings from FIO, STEC, and others. (NTAP/FIO) Comment! [Tech]
Monday, August 20, 2012, 12:57 PM Spreadtrum's (SPRD) chips have been designed into 70% of the TD-SCDMA 3G phones launched thus far in 2H, claims Avian. Last week, Marvell (MRVL) suggested on its FQ2 earnings call it was losing TD-SCDMA baseband chip share, but didn't say to whom. Comment! [Tech, Quick Ideas]
Friday, August 17, 2012, 10:21 AM Marvell's (MRVL -15.6%) FQ2 miss isn't sitting well with Cowen: the firm thinks management should have warned, and argues investors should wait for business to stabilize before buying. During its earnings call, Marvell partly blamed "increased competition" in the market for TD-SCDMA baseband chips (used in phones running on China Mobile's 3G network) for its miss - Marvell's main competitors in this space are Spreadtrum, Qualcomm, and MediaTek. (FQ3 guidance) 1 Comment [Tech, On the Move]
Friday, August 17, 2012, 9:10 AM Premarket gainers: ANN +15%. PSTI +7%. ASTI +6%. IDIX +6%. VRNG +5%.
Losers: IO -17%. MCP -11%. MRVL -9%. VVUS -7%. ARO -5%. Comment! [On the Move]
Thursday, August 16, 2012, 5:32 PM Marvell (MRVL) guides on its FQ2 earnings call (webcast) for FQ3 revenue of $800M-$850M and EPS of $0.22-$0.26, below a consensus of $914.9M and $0.31. MRVL -7.6% AH. Comment! [Tech, Earnings, On the Move]
Thursday, August 16, 2012, 4:21 PM More on Marvell's FQ2: The chipmaker blames its FQ2 miss on soft demand for storage and mobile products - likely hard drive controllers and TD-SCDMA 3G baseband chips - which offset growing SSD, high-end hard drive controller, and Wi-Fi chip sales. $250M worth of shares were repurchased. Gross margin was 53.6%, down 90 bps Q/Q and 450 bps Y/Y. Earnings call at 4:45PM ET (webcast), guidance should be provided. MRVL -7.2% AH. Rival LSI -0.9%. (PR) 2 Comments [Tech, Earnings, On the Move]
Thursday, August 16, 2012, 4:09 PM Marvell Technology Group (MRVL): Q2 EPS of $0.24 misses by $0.02. Revenue of $816M misses by $36M. Shares -6.7% AH. (PR) Comment! [Earnings, Tech, On the Move]
Thursday, August 16, 2012, 12:10 AM Notable earnings after Thursday’s close: ARO, AVGO, BRCD, DRYS, GPS, MRVL 1 Comment [Earnings]
Wednesday, August 15, 2012, 5:35 PM Notable earnings after Thursday’s close: ARO, AVGO, BRCD, DRYS, GPS, MRVL Comment! [Earnings]
Tuesday, August 7, 2012, 1:35 PM Freescale (FSL +10.9%), LSI (LSI +5.8%), and Applied Materials (AMAT +4.9%) lead a major rally in chip stocks (SOXX +2.6%) after Goldman upgrades the companies. Discussing Freescale, Goldman argues downside to estimates is limited given soft guidance and a lean supply chain, and (more importantly for peers) the firm expects EPS to be "up significantly" in 2013 and 2014 thanks to a new chip industry up cycle. MU +5.4%. NXPI +5.8%. MRVL +4.8%. ATML +5.9%. 1 Comment [Tech, On the Move, Quick Ideas]
Saturday, August 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) 1 Comment [Tech]
Monday, July 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. Comment! [Tech, Earnings, On the Move]
Monday, July 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. Comment! [Tech, On the Move, Quick Ideas]
Thursday, July 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) Comment! [Tech, Earnings, On the Move]
Thursday, July 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%. 1 Comment [On the Move]