Ahead of the Bell: Marvell seen posting strong 2Q
NEW YORK --Analysts believe Marvell Technology Group is set to report strong second-quarter earnings on Thursday.
Pacific Crest analysts Ruben Roy and Yang Tang wrote in a client note Monday that their contacts indicated that the latest quarter finished well in July, and expect revenue at least in line with Wall Street.
The analysts expect the company to continue to improve its margin, and with new products on the way, believes their own estimates for 2009 could be "conservative."
At Goldman Sachs, analysts said high expectations for the second quarter, driven by chips for hard drives and Research In Motion Ltd.'s new BlackBerry, are likely priced into the stock already.
"We recommend that investors remain on the sidelines given headwinds from hard drive customer trends and share loss at RIM in coming quarters," the analysts wrote.
On average, analysts polled by Thomson Reuters expect Marvell to report second-quarter earnings of 21 cents per share. 