Latest news with #Marvell
Yahoo
a day ago
- Business
- Yahoo
Marvell price target raised to $70 from $60 at TD Cowen
TD Cowen raised the firm's price target on Marvell (MRVL) to $70 from $60 and keeps a Buy rating on the shares. The firm said an in-line print/guide with strong language on 3nm engagement with Amazon (AMZN), but 'multiple paths' commentary is likely to continue to concern investors who will be hoping for more detail at the June AI webinar. Long-term momentum is there, but lack of 'upside' in a strong spending environment, and inherent limited visibility in custom is likely to keep the stock a battleground. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See Insiders' Hot Stocks on TipRanks >> Read More on MRVL: Disclaimer & DisclosureReport an Issue Marvell price target lowered to $90 from $110 at Raymond James Marvell price target lowered to $90 from $110 at Loop Capital Marvell price target lowered to $85 from $95 at Piper Sandler Marvell Technology: Strong Buy Rating Backed by AI-Driven Growth and Strategic Collaborations Marvell's Promising Growth Prospects and Strategic Engagements Justify Buy Rating
Yahoo
2 days ago
- Business
- Yahoo
Marvell Beats Q1 Earnings Estimates, Guides Strong on Robust Demand
Marvell Technology, Inc. MRVL started fiscal 2026 on a strong note by reporting stronger-than-expected first-quarter results. The chip maker reported first-quarter non-GAAP earnings of 62 cents per share, decisively exceeding the Zacks Consensus Estimate by 1.64%. Quarterly earnings also came ahead of the midpoint of the company's guidance of 61 cents (+/- 5 cents). Furthermore, the bottom line increased 158% year over year and 3% sequentially, driven by higher revenues and effective cost management. Marvell's earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 3.6%. (Find the latest earnings estimates and surprises on Zacks Earnings Calendar.) Marvell's first-quarter revenues of approximately $1.9 billion beat the Zacks Consensus Estimate by 1.04%. The top line was also above the midpoint of management's guidance of $1.875 billion (+/- 5%). First-quarter revenues grew 63% year over year and 4% sequentially, mainly driven by strong growth in the data center and continued recovery in enterprise networking and carrier infrastructure end markets. Marvell Technology, Inc. price-consensus-eps-surprise-chart | Marvell Technology, Inc. Quote Marvell's top-line growth was supported by impressive performances across its segments, which rose sequentially, while the data center segment registered phenomenal growth both year over year and quarterly. Data center revenues of $1.44 billion increased 76% year over year and 5% sequentially. The solid momentum in electro-optics products, custom AI silicon and next-gen switch divisions primarily drove the robust year-over-year and sequential increase. The segment accounted for 76% of the quarter's total revenues, demonstrating that it is currently MRVL's largest end market. Our estimate for Data Center's fiscal first-quarter revenues was pegged at $1.4 billion. Revenues from enterprise networking increased 16% year over year and 4% sequentially to $178 million and accounted for 9% of the total revenues. The year-over-year rise was primarily driven by continued demand recovery across the end market. Our estimate for enterprise networking's fiscal first-quarter revenues was pegged at $186.9 million. Carrier infrastructure revenues, which accounted for 7% of the total revenues, soared 93% year over year and 31% sequentially to $138 million due to continued demand recovery. Our estimate for the carrier infrastructure's fiscal first-quarter revenues was pegged at $114.4 million. Automotive/Industrial revenues decreased 2% year over year and 12% sequentially to $76 million, mainly due to continued weakness across the industrial end market, which more than offset the benefits of recovery in the automotive segment. Revenues from this segment constituted 4% of the total revenues. Our estimate for the Automotive/Industrial's fiscal first-quarter revenues was pegged at $88.9 million. Consumer revenues, representing 2% of the total revenues, increased 50% year over year but declined 29% sequentially to $42 million. Our estimate for Consumer's fiscal first-quarter revenues was pegged at $90.4 million. Marvell's non-GAAP gross profit of $1.13 billion reflected an increase of 56.6% on a year-over-year basis and 3.8% sequentially. However, the non-GAAP gross margin of 59.8% contracted 260 basis points (bps) on a year-over-year basis and 30 bps sequentially. Non-GAAP operating expenses totaled $486.2 million compared with $453.8 million in the year-ago quarter and $479.4 million in the previous quarter. Marvell's non-GAAP operating profit of $647.3 million reflected an increase of 239.6% on a year-over-year basis and 5.7% sequentially. Marvell's non-GAAP operating margin of 34.2% expanded 1,090 bps year over year and 50 bps sequentially. Considering continued robust demand for its custom AI chips, Marvell initiated strong revenue guidance for the second quarter. It expects revenues to be $2 billion (+/- 5%) for the second quarter. The Zacks Consensus Estimate for revenues is pegged at $1.98 billion, with a year-over-year improvement of 55.2%. The non-GAAP gross margin is projected to be in the 59%-60% range, while non-GAAP operating expenses are estimated to be $495 million. The company projects non-GAAP earnings per share for the fiscal second quarter to be 67 cents per share (+/- 5 cents per share), while the consensus mark for the same is currently pegged at 65 cents. The figure remains unchanged over the past 60 days and indicates a year-over-year improvement of 116.7%. Marvell currently carries a Zacks Rank #4 (Sell). Amphenol APH, Juniper Networks JNPR and Upwork UPWK are some better-ranked stocks that investors can consider in the broader Zacks Computer & Technology sector. APH, JNPR and UPWK each sport a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks here. Amphenol shares have surged 27.3% in the year-to-date period. The Zacks Consensus Estimate for Amphenol's full-year 2025 earnings is pegged at $2.66 per share, up by 8 cents over the past 30 days, suggesting growth of 40.7% from the year-ago quarter's reported figure. Juniper Networks shares have declined 3.7% in the year-to-date period. The Zacks Consensus Estimate for Juniper Networks' full-year fiscal 2025 earnings has been revised upward by a penny to $2.09 in the past 30 days, suggesting year-over-year growth of 21.5%. Upwork shares have fallen 3.2% in the year-to-date period. The Zacks Consensus Estimate for Upwork's full-year 2025 earnings has been revised upward by 10 cents over the past 30 days to $1.14 per share, implying a rise of 9.6% from the year-ago quarter's levels. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Amphenol Corporation (APH) : Free Stock Analysis Report Juniper Networks, Inc. (JNPR) : Free Stock Analysis Report Marvell Technology, Inc. (MRVL) : Free Stock Analysis Report Upwork Inc. (UPWK) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
CNBC
2 days ago
- Business
- CNBC
Stocks making the biggest moves midday: Costco, Palantir, Gap, Ulta Beauty and more
Check out the companies making headlines in midday trading. Costco — The wholesaler gained more than 3% on fiscal third-quarter results that surpassed analyst estimates, while sales jumped 8% from the same period a year ago. Ulta Beauty — Shares of the beauty retailer skyrocketed nearly 13% to hit a 52-week high after the company raised its annual profit forecast and crushed expectations with its quarterly results. Ulta said lower inventory losses as well as new launches helped drive demand at its stores. Gap — The apparel retailer plunged 20% after saying it sees current-quarter sales around flat from the year-earlier period. On the other hand, analysts had expected sales to grow 0.2%. This cloudy outlook outweighed Gap's first-quarter earnings and revenue beat. Elastic NV — The software company pulled back 12% after its full-year revenue forecast missed analyst estimates. Elastic expects revenue for the full-year between $1.655 billion to $1.67 billion, while analysts polled by FactSet were looking for $1.68 billion. Marvell Technology — The semiconductor company declined 6% after Marvell's first-quarter earnings failed to impress investors. Marvell reported adjusted earnings per share of 62 cents, while analysts surveyed by LSEG called for 61 cents per share. Regeneron Pharmaceuticals , Sanofi — Shares of the biopharma companies dropped 18% and 5.6%, respectively, on inconsistent results from late-stage trials for respiratory drug Itepekimab, which both firms are involved in developing. PagerDuty — Shares dipped 11% after the cloud computing firm issued a weaker-than-expected second-quarter profit forecast. PagerDuty expects earnings per share between 19 cents and 20 cents, excluding items, while analysts polled by FactSet were looking for 23 cents. Zscaler — The cloud security firm surged 8% after third-quarter results beat analyst estimates. Zscaler reported an adjusted 84 cents per share on revenue of $678 million, while analysts polled by FactSet were looking for an adjusted 76 cents and $666.5 million. Palantir Technologies — The software platform stock advanced more than 5% after a Friday report from the New York Times said the Trump administration tapped Palantir to aid in compiling data on U.S. citizens, expanding Palantir's already robust dealings with the government. — CNBC's Yun Li and Lisa Kailai Han contributed reporting.
Yahoo
2 days ago
- Business
- Yahoo
Marvell Shares Tumble Amid Concerns Over Next-Gen AI Ramp
May 30 - Shares of Marvell Technology (NASDAQ:MRVL) slid 4% in premarket trading Friday after the company posted first-quarter results and updated its guidance. The specialty semiconductor firm reported a GAAP gross margin of 50.3% and a non-GAAP gross margin of 59.8%. GAAP diluted EPS came in at $0.20, with non-GAAP diluted EPS of $0.62. Cash flow from operations was $332.9 million, bolstered by its positioning in the custom AI infrastructure market, which may drive further growth. Warning! GuruFocus has detected 4 Warning Signs with MRVL. Bank of America analyst Vivek Arya, who rates the stock Buy with a $72 target, said confirmation of Marvell's pipeline ahead of its June 17 AI Investor Event could boost confidence. However, limited earnings revisions are likely to keep the shares in check near term, as the Microsoft (NASDAQ:MSFT) chip deal won't begin until 2026. Needham's N. Quinn Bolton trimmed his price target to $85 from $100, citing valuation compression. He maintained a Buy rating, noting Marvell has addressed next-generation XPU concerns and that its Microsoft and Amazon (NASDAQ:AMZN) agreements remain intact. The company has secured 3 nm wafer and packaging capacity for production in calendar 2026 and expects custom XPU revenue to grow in fiscal 2026 and beyond. Morgan Stanley's Joseph Moore said his team may have overestimated pricing or volumes for Marvell's custom AI business with Amazon's Trainium processors, but added other segments are performing well and management remains confident in its AI roadmap. Shares of peers Broadcom (NASDAQ:AVGO) and Nvidia (NASDAQ:NVDA) also inched lower. This article first appeared on GuruFocus.
Yahoo
2 days ago
- Business
- Yahoo
Marvell Shares Tumble Amid Concerns Over Next-Gen AI Ramp
May 30 - Shares of Marvell Technology (NASDAQ:MRVL) slid 4% in premarket trading Friday after the company posted first-quarter results and updated its guidance. The specialty semiconductor firm reported a GAAP gross margin of 50.3% and a non-GAAP gross margin of 59.8%. GAAP diluted EPS came in at $0.20, with non-GAAP diluted EPS of $0.62. Cash flow from operations was $332.9 million, bolstered by its positioning in the custom AI infrastructure market, which may drive further growth. Warning! GuruFocus has detected 4 Warning Signs with MRVL. Bank of America analyst Vivek Arya, who rates the stock Buy with a $72 target, said confirmation of Marvell's pipeline ahead of its June 17 AI Investor Event could boost confidence. However, limited earnings revisions are likely to keep the shares in check near term, as the Microsoft (NASDAQ:MSFT) chip deal won't begin until 2026. Needham's N. Quinn Bolton trimmed his price target to $85 from $100, citing valuation compression. He maintained a Buy rating, noting Marvell has addressed next-generation XPU concerns and that its Microsoft and Amazon (NASDAQ:AMZN) agreements remain intact. The company has secured 3 nm wafer and packaging capacity for production in calendar 2026 and expects custom XPU revenue to grow in fiscal 2026 and beyond. Morgan Stanley's Joseph Moore said his team may have overestimated pricing or volumes for Marvell's custom AI business with Amazon's Trainium processors, but added other segments are performing well and management remains confident in its AI roadmap. Shares of peers Broadcom (NASDAQ:AVGO) and Nvidia (NASDAQ:NVDA) also inched lower. This article first appeared on GuruFocus. Sign in to access your portfolio
