Marvell Technology Group Ltd. Third Quarter Earnings Sneak Peek

Marvell Technology Group Ltd. (NASDAQ:MRVL) will unveil its latest earnings on Thursday, November 17, 2011. 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 35 cents per share, a decline of 14.6% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 37 cents. Between one and three months ago, the average estimate moved down. It also has dropped from 36 cents during the last month. For the year, analysts are projecting profit of $1.18 per share, a decline of 19.7% from last year.

Past Earnings Performance: Last quarter, the company topped expectations by one cent, coming in at net income of 33 cents per share versus a mean estimate of profit of 32 cents per share. This followed two straight quarters of missing estimates.

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Wall St. Revenue Expectations: Analysts are projecting a decline of 1.7% in revenue from the year-earlier quarter to $942.8 million.

Analyst Ratings: Analysts are bullish on this stock with 19 analysts rating it as a buy, none rating it as a sell and six rating it as a hold.

A Look Back: In the second quarter, profit fell 12.5% to $192.4 million (31 cents a share) from $219.8 million (33 cents a share) the year earlier, but exceeded analyst expectations. Revenue rose 0.1% to $897.5 million from $896.5 million.

Key Stats:

The company has seen net income fall in each of the last two quarters. Net income dropped 28.6% in the first quarter.

Over the last four quarters, revenue has increased 5.1% on average year over year. The biggest increase came in the third quarter of the last fiscal year, when revenue rose 19.5% from the year earlier quarter.

Competitors to Watch: Texas Instruments Inc. (NYSE:TXN), Intel Corporation (NASDAQ:INTC), Broadcom Corporation (NASDAQ:BRCM), PLX Technology, Inc. (NASDAQ:PLXT), Standard Microsystems Corp. (NASDAQ:SMSC), PMC-Sierra, Inc. (NASDAQ:PMCS), LSI Corporation (NYSE:LSI), STMicroelectronics N.V. (NYSE:STM), and NVIDIA Corporation (NASDAQ:NVDA).

Stock Price Performance: During August 18, 2011 to November 11, 2011, the stock price had risen $2.95 (24.6%) from $11.97 to $14.92. The stock price saw one of its best stretches over the last year between January 4, 2011 and January 18, 2011 when shares rose for 10-straight days, rising 20.8% (+$3.77) over that span. It saw one of its worst periods between December 2, 2010 and December 16, 2010 when shares fell for 11-straight days, falling 9.2% (-$1.89) over that span. Shares are down $3.63 (-19.6%) year to date.

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

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