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Technology Stocks : Semi Equipment Analysis

SOXX 296.20

-0.6%

Dec 16 4:00 PM EST

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Donald Wennerstrom

To: Return to Sender who wrote (76824)	8/24/2017 6:24:00 PM
From: Return to Sender	1 Recommendation Read Replies (1) of 95587

Marvell tops Street 2Q forecasts finance.yahoo.com Associated PressAugust 24, 2017 HAMILTON, Bermuda (AP) _ Marvell Technology Group Ltd. (MRVL) on Thursday reported fiscal second-quarter profit of $165.3 million. The Hamilton, Bermuda-based company said it had profit of 32 cents per share. Earnings, adjusted for one-time gains and costs, came to 30 cents per share. The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share. The chipmaker posted revenue of $604.8 million in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $600.3 million. For the current quarter ending in November, Marvell expects its per-share earnings to range from 30 cents to 34 cents. The company said it expects revenue in the range of $595 million to $625 million for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $622.7 million. Marvell shares have risen 14 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $15.86, an increase of 31 percent in the last 12 months.

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