What's Going On With Marvell Technology Shares Friday?
Portfolio Pulse from Dylan Berman
Marvell Technology shares rose after reporting better-than-expected Q2 earnings, with EPS in line and sales surpassing estimates. The company anticipates growth across all end markets in Q3, with a 14% sequential revenue increase. Analysts adjusted their price targets, mostly raising them.
August 30, 2024 | 4:21 pm
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Marvell Technology's stock rose 9.48% following a strong Q2 earnings report, with sales beating estimates and positive Q3 guidance. Analysts mostly raised their price targets, indicating confidence in future growth.
Marvell Technology reported Q2 earnings with sales exceeding expectations and provided optimistic Q3 guidance, forecasting a 14% sequential revenue growth. This positive outlook led to a 9.48% increase in stock price. Analysts' price target adjustments, mostly upwards, further support the positive sentiment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100