Marvell Technology Group Ltd. (NASDAQ:MRVL)’s positive Q2 results with 10% increase in revenue


Dallas, Texas 08/28/2013 (Financialstrend) – In the recently presented earnings report for the second quarter of fiscal year 2013, Marvell Technology Group Ltd. (NASDAQ:MRVL) had reported an increase of 10 percent in the revenues over the previous year. It is further worth noting that the stock had increased by 78% in the previous quarter and had proved to be of higher attraction to the hedge fund managers in the recent days. The company had further posted net income at $61.8 million for the quarter, which was observed to be an increase in income of 16.2% over the previous year.

Marvell Technology Group Ltd. (NASDAQ:MRVL) had reported profit margins at 7.7% for the second quarter of fiscal year 2014, compared to the margins at 7.2% for the first quarter and at 11.4% for the same quarter of previous year. It is worth noting that the company had managed to present growth in revenues to be in line with the average performance of its peers in the industry. However, the price equity ratio of the stock is higher at 27.7 which proves to be more than the industry average level.

Marvell Technology Group Ltd. (NASDAQ:MRVL) had closed on Tuesday at $11.64 per share and had thereby presented loss of 2.92% for the trading session. The stock was observed to be moving through the day to present intraday fluctuations in the range of $11.63 to $11.90 per share, while it presently has its 52 week low at $6.98 and 52 week high at $13.51 per share. Further, the stock had a trading volume of 12.90 million shares on Tuesday while the average level is at 5.87 million shares per day. There are 492.10 million shares of the company which are traded in the markets and the institutional owners hold 67%.