Benzinga | Mar 3, 2021 04:24PM EST

Marvell Technology Group: Q4 Earnings Insights

Shares of Marvell Technology Group (NASDAQ:MRVL) decreased 3.9% in after-market trading after the company reported Q4 results.

Quarterly Results

Earnings per share were up 70.59% over the past year to $0.29, which were in line with the estimate of $0.29.

Revenue of $797,819,000 up by 11.17% year over year, which beat the estimate of $794,320,000.

Outlook

Marvell Sees Q1 2022 Net Revs. $800M +/- 5%

Marvell Sees Q1 2022 Non-GAAP EPS $0.23-$0.31

Conference Call Details

Date: Mar 03, 2021

Time: 04:45 PM

ET Webcast URL: https://edge.media-server.com/mmc/p/tcsxvxtq

Recent Stock Performance

52-week high: $55.70

Company's 52-week low was at $16.45

Price action over last quarter: Up 6.02%

Company Overview

Marvell Technology designs integrated circuits primarily for data storage, networking, and communications. Historically, the firm focused on storage, where it is still a key supplier to hard-disk drive and solid-state drive makers but has strategically emphasized networking to offset declining HDD technology. The firm has since diversified via acquisitions and supplies chips to the networking and consumer electronic spaces. Marvell outsources its production to third-party foundries.