Marvell Technology Group First Quarter Earnings Sneak Peek

Marvell Technology Group Ltd. (NASDAQ:MRVL) will unveil its latest earnings on Thursday, May 17, 2012. Marvell Technology Group is a global semiconductor provider of analog, mixed-signal, digital signal processing, and embedded microprocessor integrated circuits.

Marvell Technology Group Ltd. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 16 cents per share, a decline of 33.3% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 14 cents. Between one and three months ago, the average estimate moved up. It has been unchanged at 16 cents during the last month. Analysts are projecting profit to rise by 5.6% versus last year to $1.02.

Past Earnings Performance: The company topped forecasts last quarter after being in line with estimates the quarter prior. In the fourth quarter of the last fiscal year, it reported profit of 16 cents per share versus a mean estimate of 12 cents. Two quarters ago, it reported net income of 35 cents per share.

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Wall St. Revenue Expectations: Analysts are projecting a decline of 4.2% in revenue from the year-earlier quarter to $768.7 million.

Analyst Ratings: Analysts are bullish on this stock, with 17 analysts rating it as a buy, one rating it as a sell and seven rating it as a hold.

A Look Back: In the fourth quarter of the last fiscal year, profit fell 63.8% to $80.7 million (14 cents a share) from $222.9 million (33 cents a share) the year earlier, but exceeded analyst expectations. Revenue fell 17.5% to $742.7 million from $900.5 million.

Key Stats:

For two quarters in a row, revenue has declined. In the third quarter of the last fiscal year, the figure fell 0.9%.

Stock Price Performance: Between February 15, 2012 and May 11, 2012, the stock price fell $2.33 (-14.4%), from $16.14 to $13.81. The stock price saw one of its best stretches over the last year between December 28, 2011 and January 9, 2012, when shares rose for eight straight days, increasing 15.4% (+$2.12) over that span. It saw one of its worst periods between April 30, 2012 and May 10, 2012 when shares fell for nine straight days, dropping 9.7% (-$1.45) over that span.

(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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