Marvell Technology Group Q4 2023 Earnings Preview: Customized chip products in focus
Marvell Technology Group (NASDAQ:MRVL) is scheduled to announce Q4 earnings results on Thursday, March 2nd, after market close.
The consensus EPS Estimate is $0.47 (-6.0% Y/Y) and the consensus Revenue Estimate is $1.41B (+5.2% Y/Y).

Earnings History: The company has reported weak Q3 earnings results and FY2023 outlook citing inventory reductions at its customers.

Over the last 2 years, MRVL has beaten EPS estimates 75% of the time and has beaten revenue estimates 88% of the time.
Over the last 3 months, EPS estimates have seen 0 upward revisions and 26 downward. Revenue estimates have seen 0 upward revisions and 23 downward.

Analyst Rating: Oppenheimer analyst Rick Schafer maintained an Outperform rating and $70 price target. The analyst sees the results being "at least in line" with Q1 guidance also being "roughly in line." Oppenheimer feels the environment has not materially changed since Marvell's previous report. The firm noted that Cloud, which is about 25% of sales, will be in focus amid growing concerns over hyperscale spend plans.
Although MRVL shares have gained about 26% so far this year , it is still down about 30% over a period of one year.

For deep analysis on the stock, see why SA contributor JR Research says, "Marvell is well-positioned to ride the crest of critical data center tailwinds. The company is poised for robust growth, with its Arm-based portfolio primed to outpace its x86 counterparts."