Marvell Stock Drops 17% on Weak Guidance Despite Data Center Growth
-
Marvell Technology shares fell 17% after Q4 results and Q1 guidance missed expectations due to weakness in Carrier and Auto/Industrial segments.
-
Data Center segment grew 54% and drove 10% of total revenue, but expected to see sequential slowdown in Q1.
-
Announced $3 billion increase to share repurchase program, bringing total authorization to $3.3 billion.
-
Over the last year, MRVL shares have had 19 moves greater than 5%, indicating significant market reactions to news.
-
MRVL is up 31% YTD but still 11% below 52-week high, presenting a potential buying opportunity for investors.