Morningstar - Marvell Technology Group Ltd. (MRVL) Long-Term Networking Trends Offset Near-Term Storage Declines; Maintaining $21 FVE for Marvell

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Morningstar

Seth Sherwood

EUR 100.00 For Business Accounts Only

Long-Term Networking Trends Offset Near-Term Storage Declines; Maintaining $21 FVE for Marvell

Marvell reported mixed fourth-quarter fiscal 2019 results and guidance for the upcoming quarter that was weaker than we anticipated. While revenue was at the high-end of guidance (after management released an updated outlook in February), adjusted earnings per share came in below our estimate. Macroeconomic uncertainty and storage market transitions were the headwinds for the quarter, as expected. We reiterate our high uncertainty rating and no-moat rating for the firm and, in our view, do not s...

11/03/2019 14 EN

Underlying

Marvell Technology Group Ltd.

Marvell Technology Group is a semiconductor provider of application-specific products. The company is focused on the development of System-on-a-Chip devices, utilizing its technology portfolio of intellectual property in the areas of analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. The company develops integrated hardware platforms along with software that incorporates digital computing technologies. In storage, the company is engaged in fibre channel products and data storage controller solutions spanning cloud, enterprise, edge and personal computing markets. The company's networking products include ethernet solutions, embedded processors and WiFi connectivity solutions.

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BMG5876H1051 NASDAQ Stock Market Bermuda

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

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Analysts

Seth Sherwood

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Long-Term Networking Trends Offset Near-Term Storage Declines; Maintaining $21 FVE for Marvell

The Great Replatforming, part I – the Special Theory

Growth in Public Cloud: Where from? What’s next?

Bible 1Q25: Telecom Infrastructure – Mobile stabilizes off the lows, waiting for 6G, fixed rebounds

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Sasol Provides Full-Year Production Update

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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