Marvell to Replace Intel in Google TVs

Marvell (NASDAQ:MRVL) announces its ARM-based (NASDAQ:ARMH) ARMADA processors will replace Intel (NASDAQ:INTC) chips in the latest Google TV (NASDAQ:GOOG). Last October, Intel said it was closing a division that developed Atom chips for the set-top box market.

Eric Schmidt said he expects Google TV to be in the greater part of TV sets by summer, though that may prove to be a large expectation.

Here’s shares of Marvell, Google and a few stocks in the space are reacting to the news today:

Google Inc. (NASDAQ:GOOG): GOOG shares recently traded at $661.72, down $6.56, or 0.98%. They have traded in a 52-week range of $473.02 to $670.25. Volume today was 2,230,508 shares versus a 3-month average volume of 3,023,350 shares. The company’s trailing P/E is 22.56, while trailing earnings are $29.34 per share.

Intel Corporation (NASDAQ:INTC): INTC shares recently traded at $25.40, up $0.29, or 1.15%. They have traded in a 52-week range of $19.16 to $25.78. Volume today was 25,405,057 shares versus a 3-month average volume of 56,620,700 shares. The company’s trailing P/E is 11.00, while trailing earnings are $2.31 per share.

Advanced Micro Devices, Inc. (NYSE:AMD): AMD shares recently traded at $5.51, up $0.05, or 0.92%. They have traded in a 52-week range of $4.31 to $9.58. Volume today was 5,431,454 shares versus a 3-month average volume of 16,722,000 shares. The company’s trailing P/E is 3.92, while trailing earnings are $1.41 per share.

ARM Holdings plc (NASDAQ:ARMH): ARMH shares recently traded at $28.41, up $0.33, or 1.18%. They have traded in a 52-week range of $21.60 to $32.18. Volume today was 1,020,812 shares versus a 3-month average volume of 3,338,500 shares. The company’s trailing P/E is 75.76, while trailing earnings are $0.38 per share.

Apple Inc. (NASDAQ:AAPL): AAPL shares recently traded at $416.82, up $3.38, or 0.82%. They have traded in a 52-week range of $310.50 to $426.70. Volume today was 5,687,234 shares versus a 3-month average volume of 15,347,000 shares. The company’s trailing P/E is 15.06, while trailing earnings are $27.68 per share.

Marvell Technology Group Ltd. (NASDAQ:MRVL): MRVL shares recently traded at $15.18, up $0.99, or 6.98%. They have traded in a 52-week range of $11.23 to $22.01. Volume today was 16,647,714 shares versus a 3-month average volume of 12,369,300 shares. The company’s trailing P/E is 12.83, while trailing earnings are $1.18 per share.

Sony Corporation (NYSE:SNE): SNE shares recently traded at $17.76, down $0.46, or 2.52%. They have traded in a 52-week range of $16.16 to $36.97. Volume today was 653,465 shares versus a 3-month average volume of 1,332,100 shares. The company’s trailing earnings are $-4.66 per share.

To contact the reporter on this story: Brooke Edge at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com