Marvell Technology Q1 Earnings Preview
<p>Oppenheimer analysts released their outlook on <a href='https://financialmodelingprep.com/financial-summary/MRVL'>Marvell Technology, Inc. (NASDAQ:MRVL)</a> ahead of the company’s upcoming Q1 earnings results, expected to be reported on May 26. The analysts anticipate an upside to consensus Q1 sales/EPS of $1.4 billion/$0.51 and Q2 of $1.5 billion/$0.55. </p>
<p>The analysts expect DC to grow around 6% quarter-over-quarter (120% year-over-year) led by cloud, Carrier to grow 3% quarter-over-quarter (49% year-over-year), and Enterprise Networking to grow approximately 15% quarter-over-quarter (73% year-over-year).</p>
<p>Demand continues to outstrip supply. The analysts believe the company has approximately 100% backlog coverage for 2022 and see upside as supply improves. </p>
<p>According to the analysts the company’s platform approach positions it well to capture share/content in cloud, 5G and auto. The analysts maintained their outperform rating but lowered their price target to $90 from $110 on group multiple compression.</p>

NASDAQ:MRVL