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So the trade ban on Huawei dented Marvell’s shipments in the first quarter.The trade deal would, therefore, boost the global economy, mainly the semiconductor industry, which is especially sensitive to the trade war.


Why Marvell Technology Stock Jumped 22% Last Month The networking-semiconductor specialist's stock is now up roughly 32% year to date. Returns as of 07/31/2020. May.

The average analyst estimate had anticipated revenue of $678.7 million and EPS of $0.14.Marvell's stock gains last month followed an 18.2% increase for its share price in April.Despite some headwinds from the coronavirus, Marvell posted better-than-expected results in the first quarter thanks to strong performance from the company's data center and 5G infrastructure end markets and its networking business. None of the analysts give it a “sell” rating.The share price increased after a Wall Street analyst raised both price target and recommendation for Marvell stock. The momentum in the stock price also reflected optimism about a US-China trade deal. Mobley further expects Marvell to benefit from capital spending in the data center segment.Chip companies have massive exposure to Huawei, and the trade ban had dented their sales. Meanwhile, the Dow Jones Industrial Average is rising by over 100 points or around 0.45% today.

Moreover, the analyst believes Marvell could deliver significant sales, relating to its 5G-base station, to Nokia and Samsung up to 2020.

This target shows that Marvell stock is trading at a discount of 10.8% to average analyst estimates.For fiscal 2020, Wall Street analysts expect Marvell’s revenues to decline 6.25% year-over-year. Marvell stock has gained 12.8% this year, with the S&P 500 index falling 6%. At Friday’s closing price, Marvell Technology’s market capitalization stood at $17.6 billion.

On May 27, Marvell published first-quarter sales that topped the market's expectations, significantly boosting the share price. The company also anticipates adjusted earnings to grow to $0.15 to $0.19 per share for Q3.
Marvell stock is up over 5% today as of 11:47 AM ET.

Plus, the S&P 500 and Nasdaq Composite each gained over 0.4% today.Marvell has forecast third-quarter revenues of $660 million, plus or minus 3%.

Marvell Semiconductor has been on quite the roll from a product and stock price standpoint the past four years under the leadership of CEO Matt Murphy. Meanwhile, analysts expect Q3 earnings to decline by 47.2% year-over-year to $0.17 per share.Per the report, Mobley feels Marvell is at a “tipping point” on 5G investments. Marvell Technology Group Ltd. Common Stock (MRVL) Stock Quotes - Nasdaq offers stock quotes & market activity data for US and global markets. And the improvement in trade relations between the US and Huawei is expected to benefit chip stocks further.

Chipmaker Marvell Technology is trending upward during today’s trading session. So, on a year-to-date basis, Marvell stock gained about 55.8% as of November 1.Wall Street analysts have a 12-month price target of $28.19 for MRVL. Marvell’s revenues mostly come from Huawei.

However, analysts expect revenues to improve in fiscal 2021 and grow 15.5% year-over-year.