X
<

Your Top Tech Movers in August

PART:
1 2 3 4 5 6 7 8 9 10 11 12
Part 12
Your Top Tech Movers in August PART 12 OF 12

Mapping Marvell Technology’s Rise Last Month

Marvell rises 15% in August

Semiconductor (SMH) stock Marvell Technology (MRVL) rose 15.1% in August 2017 and closed the month at $17.91. Marvell is now trading 49% above its 52-week low of $12.03 and marginally below its 52-week high of $18.18.

Marvell’s stock price rose ~10% on August 25, 2017, after the firm announced its 2Q17 results. It reported revenues of $605 million, which represents a rise of 1% YoY (year-over-year) in fiscal 2Q17. Its non-GAAP (generally accepted accounting principles) EPS (earnings per share) rose 67% YoY to $0.3 in 2Q17.

Mapping Marvell Technology&#8217;s Rise Last Month

Interested in MRVL? Don't miss the next report.

Receive e-mail alerts for new research on MRVL

Success! You are now receiving e-mail alerts for new research. A temporary password for your new Market Realist account has been sent to your e-mail address.

Success! has been added to your Ticker Alerts.

Success! has been added to your Ticker Alerts. Subscriptions can be managed in your user profile.

Analysts expected Marvell to post revenues of $601 million and EPS of $0.28 for the quarter (ended July 2017). Its free cash flow rose 134% YoY to $89 million in 2Q17, up from $38 million in 2Q16.

Marvell’s core business revenue rose 6% in 2Q17

Marvell’s Storage Controller revenues rose 13% YoY and drove the company’s core business revenue 6% higher in 2Q17. Similar to storage firms like Western Digital (WDC) and Seagate (STX), Marvell has also been impacted by a slowdown in the traditional HDD (hard-disk drive) market. The decline in HDD revenues has been offset by growth in SSD (solid-state drive). Marvell’s SSD revenue now accounts for ~25% of the firm’s total storage revenues.

Notably, Marvell is looking to improve its revenue growth by focusing on increasing sales of its SSD product segment.

X

Please select a profession that best describes you: