Marvell Technology shares are trading lower after the company reported Q4 financial results and issued soft Q1 guidance.
Portfolio Pulse from Benzinga Newsdesk
Marvell Technology's shares dropped following its Q4 financial results announcement and weaker than expected Q1 guidance. Additionally, the company has authorized a $3 billion stock buyback program.
March 08, 2024 | 11:55 am
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NEGATIVE IMPACT
Marvell Technology's shares fell due to disappointing Q4 results and weak Q1 guidance, even though a $3 billion buyback was authorized.
The negative reaction to Marvell Technology's Q4 financial results and weak Q1 guidance suggests a short-term bearish outlook for the stock. However, the $3 billion buyback program may provide some support to the stock price, indicating a mixed but predominantly negative impact.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100