3/24 - "...with its contractual obligations with Intel coming to an end, Marvell is finally in a better position to improve profitability. It also needs to come out of the options backdating scandal that slashed its shareholder value drastically and led to the resignation of its CFO George Hervey, as well as Weili Dai, the co-founder and wife of the CEO...The revolving door in the CFO’s office, however, is not at all a good sign, and it does not offer confidence that the issues are being addressed."
"In fiscal 2009, Marvell expects hard drive and wireless products to be the key drivers of its growth. Both are gangbuster growth markets, so no argument there...It also expects more design wins this year from its combo wireless devices for mobile and handheld devices, including 11BGA Bluetooth and FM-chips."
"The most important signal from the company needs to be tha...
3/7 - "MRVL just reported a Q4 profit, and a 36% increase in revenue, and predicted sales of $775 million to $785 million for its fiscal 2009 fiscal first quarter...The Analysts wanted sales of $763.9 million, so they beat the Street but some analysts said it was "still a substantial drop from its strong 2008 fourth-quarter sales of $844.7 million". Come on now, are we just going to throw every decent tech company to the curb?"
"...let the stock take a beating then by next week make your move. This company isn't a fluke and neither was this latest earnings call, good things are ahead for Marvell."
3/12 - "...management's guidance for the opening quarter of the new fiscal year fell largely in line with our own FQ1 estimates that were in place prior to the FQ4 call. In a sense, this implies a deeper than normal effect of seasonality on FQ1 results, largely dictated by continued weakness faced by Marvell in the WLAN IC-s space. Still, the Y/Y growth trends at Marvell look impressive both on the revenue side and on the profitability side (consider to expected XScale-related gross margin improvements)."
"We currently forecast FY2009 revenues of $3.31B (+14.5% Y/Y, even in a soft macroeconomic environment), non-GAAP gross margin of 49.8%, PACMO/share of $2.15 (+20% Y/Y) and non-GAAP EPS of $0.63 (+43% Y/Y)...We continue to have a $20 6-12 month price target on MRVL stock - equal to 10x our FY2009 PACMO/share view on Marvell, which actually represents a discounted PEG of 0.5x over our 20% 3-5 year growth assumption on the company. As our price target now stands significantly above the depressed market price of MRVL stock, we are reiterating our BUY rating on Marvell."
3/6 - "Marvell Technology Group Ltd. (Nasdaq: MRVL - News), a leader in storage, communications, and consumer silicon solutions, today reported financial results for its fourth quarter and fiscal year ended February 2, 2008.
Net revenue for the fourth quarter of fiscal 2008 was a record $845 million, an increase of 36% over net revenue of $622 million for the fourth quarter of fiscal 2007 and an 11% sequential increase from net revenue of $758 million for the third quarter of fiscal 2008. Net income under generally accepted accounting principles (GAAP) was $1.3 million, or $0.00 per share (diluted), for the fourth quarter of fiscal 2008 compared with net loss under GAAP of $140.6 million, or $0.24 per share (diluted), for the fourth quarter of fiscal 2007 and net loss under GAAP of $6.4 million, or $0.01 per share (diluted), for the third quarter of fiscal 2008. Shares used to compute GAAP net income per share (diluted), for the fourth quarter ended February 2, 2008 increased to 627 million shares compared with 587 million shares used to compute GAAP net loss per share (diluted) for the fourth quarter ended January 27, 2007 and 591 million shares used to compute GAAP net loss per share (diluted) for the third quarter ended October 27, 2007."
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