Marvell Technology (MRVL) : Earnings Whisper

Marvell Technology Group Ltd. (MRVL) is set to report its 2016 second quarter earnings results after the market close on Thursday. The designer of integrated circuits is expected to report revenue of $722.38 million. Similarly, the EPS is projected at $0.11. A year ago, Marvell Technology Group earned $0.34 a share. The Street’s estimates for the 2Q’16 reflect a year-over-year EPS and revenue decline of 67.64% and 24.86%, respectively. Meanwhile, expects the company to report a whisper number of $0.12 per share.

As a quick reminder, MRVL reported 1Q/16 EPS of $0.13, $0.03 better than the Street’s consensus estimate. Revs fell 24.42% year-over-year to $724 million vs. the $733.35 million consensus.

Fundamentally, MRVL shows the following financial data:

  • $2.50 billion in cash in most recent quarter
  • $5.88 billion t-12 total assets
  • $5.15 billion total equity
  • $3.47 billion t-12 revenue
  • $435.35 million annual net income
  • $665.91 million free cash flow

On valuation measures, Marvell Technology Group Ltd. shares have a T-12 price/sales ratio of 1.81 and a price/book for the same period of 1.23. EPS is $0.67. The name has a market cap of $6.29 billion and a median Wall Street price target of $14.00 with a high target of $18.00. Currently, there are 11 analysts that rate MRVL a ‘Buy’, 18 rate it a ‘Hold’. 1 analyst rates it a ‘Sell’.

In terms of share statistics, Marvell Technology Group Ltd. has a total of 517.60 million shares outstanding with 21.39% held by insiders and 61.70% held by institutions. The stock’s short interest currently stands at 1.83%, bringing the total number of shares sold short to 7.63 million.

Offering a dividend yield of 2.02%, shares of Hamilton, Bermuda-based company are down 10.27% year-over-year and 17.20% year-to-date.

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