Marvell’s Stock Gains Into Earnings, After Year To Forget: What To Expect
Marvell Technology’s stock (NASDAQ:MRVL) is trading at $92.72, up $1.69 (1.86%) ahead of today’s earnings report. While this represents an upward tick, it’s a small consolation for a stock that has underperformed significantly throughout the year, sitting 18% down year-to-date.
Wall St. is expecting Marvell to deliver an EPS of $0.74 on the period, a significant improvement on the $0.43 per share this time last year. Revenue is expected to have grown 3623% Y/Y to $2.07billion, raising more than a few questions about why the stock has underperformed.
The most significant recent catalyst for Marvell has been the announcement of a massive $5 billion share repurchase program, including an immediate $1 billion accelerated share…
