Will Marvell Technology Q1 earnings live up to strong expectations?
Marvell Technology Group (NASDAQ:MRVL) is scheduled to announce Q1 earnings results on Thursday, May 26th, after market close.
The consensus EPS Estimate is $0.51 (+75.9% Y/Y) and the consensus Revenue Estimate is $1.43B (+71.8% Y/Y).
Over the last 2 years, MRVL has beaten EPS estimates 88% of the time and has beaten revenue estimates 88% of the time.
Over the last 3 months, EPS estimates have seen 23 upward revisions and 1 downward. Revenue estimates have seen 22 upward revisions and 0 downward.
The numerous upward revisions reflect an overall semiconductor market that has been fairly strong in Q1, buoyed by continued supply-chain challenges coupled with sustained demand for products.
MRVL stock had dipped in early March, despite the company reporting Q4 earnings that beat expectations and raising its guidance. Several Wall Street firms had come to the firm's defense.
Earlier this week on Monday, Morgan Stanley noted that both MRVL and larger chip company NVIDIA have the potential to report strong quarterly results, highlighting strength in telecom, networking and cloud spending.
NVIDIA is also slated to report first-quarter results after the close of trading today. Investors are likely to see the company show continuing strength in its cloud and gaming segments, according to Bank of America.
Earlier in May, data from the Semiconductor Industry Association showed that global chip sales rose 1.1% in March from February.
Back in March, MRVL was added to what Bank of America analysts Vivek Arya, Jamie Zakalik and Blake Friedman called their MANGO stocks - favored companies in the semiconductor market. 
Read a recent bullish analysis on MRVL from SA contributor Cavenagh Research: Marvell: Well Positioned For Long-Term Performance

The SA Quant rating on MRVL is hold, the SA Authors rating is buy while the Wall St. average rating is strong buy.