Marvell Tech Set For Earnings (MRVL, BRCM)

By Douglas A. McIntyre Published Aug 23, 8:35AM EDT

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After today’s close we’ll get earnings out of Marvell Technology Group Ltd. (NASDAQ:MRVL). The company is expected to post $0.06 EPS on revenues of $645.5 million according to First Call. The coming quarter is expected to have $0.10 EPS on $693 million.

Analysts are still quite positive on the price targets and average price targets are north of $22.00. The only issue is that the analysts who have covered the stock this year have lightened up on their official ratings on the stock. Options traders appear to be braced for a 3.5% to 4% move in either direction today on a static basis. It also has over 60,000 contracts in the open interest of the SEP-07 $17.50 Calls, which is equal to more than 6 million shares on a fully leveraged basis.

Since May, shares are up about 8% from $16.38 on the May 1 close. It should be noted that shares did hit under $16.00 at the end of May and shares ran to over $19.00 in July. The 52-week trading range is $15.25 to $21.85 and shares are still down about 50% from the early 2006 highs. Broadcom (NASDAQ:BRCM) is the most frequently paired stock with Marvell, although Broadcom is nearly twice its size in market cap. Marvell has also regained all of its NASDAQ listing requirements, so we should get a cleaner earnings report than in many past quarters and here is a full summary of its ‘caught up’ financial filings it previously gave.

Jon C. Ogg
August 23, 2007

Jon Ogg can be reached at [email protected]; he does not own securities in the companies he covers.

About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.