Marvell Technology Group (MRVL) Posts Earnings Results, Misses Expectations By $0.01 EPS
Marvell Technology Group (NASDAQ:MRVL) announced its quarterly earnings data on Thursday. The semiconductor company reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.01), Bloomberg Earnings reports. Marvell Technology Group had a net margin of 22.24% and a return on equity of 13.84%. The business had revenue of $665.31 million during the quarter, compared to analysts’ expectations of $685.00 million. During the same period in the prior year, the firm earned $0.30 EPS. Marvell Technology Group’s revenue for the quarter was up 10.1% on a year-over-year basis.
Shares of MRVL opened at $19.46 on Friday. Marvell Technology Group has a 12 month low of $17.20 and a 12 month high of $25.18. The stock has a market cap of $10.27 billion, a price-to-earnings ratio of 18.71, a P/E/G ratio of 1.51 and a beta of 0.91.
In related news, insider Marvell Semiconductor, Inc. Ca sold 1,755 shares of the business’s stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $21.55, for a total value of $37,820.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Matthew J. Murphy sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $20.64, for a total value of $206,400.00. Following the completion of the transaction, the chief executive officer now owns 1,755 shares in the company, valued at approximately $36,223.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,755 shares of company stock worth $669,020. Insiders own 0.10% of the company’s stock.
Marvell Technology Group Company Profile
Marvell Technology Group Ltd. designs, develops, and markets analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a range of storage products, including hard disk drive (HDD) and solid-state drive controllers, as well as HDD components, such as HDD preamps components; and develops software-enabled silicon solutions comprising serial advanced technology attachment port multipliers, bridges, serial attached SCSI, and non-volatile memory express redundant array of independent disks controllers and converged storage processors for enterprises, data centers, and cloud computing businesses.
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