NEW YORK (TheStreet) --Shares of Marvell Technology Group Ltd. (MRVL) - Get Report are higher by 1.46% to $16.64 at the start of trading on Friday morning, after the company CEO Sehat Sutardja said during a conference call with investors that he will consider any options that made sense for the company's investors when questioned about a sale of Marvell's mobile-phone chip business, Bloomberg reports.
Recently there has been speculation that the unit could be an acquisition target. At the beginning of February an analyst with RBC Capital Markets estimated that the chip business could be worth over $1 billion, Bloomberg noted.
Marvell Technology released its fiscal 2015 fourth quarter earnings results and showed a year-over-year decline in profit.
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For the most recent quarter the fabless semiconductor provider said its non-GAAP adjusted earnings were 25 cents per share compared to the 29 cents per share reported for the fiscal 2014 fourth quarter.
On a GAAP basis the company earned 16 cents per share this quarter versus the 19 cents per share earned for the same period last year.
Marvell's revenue for the quarter fell by almost 8% to $857 million.
Analysts had forecast for adjusted earnings of 24 cents per share on revenue of $890 million for the fiscal 2015 fourth quarter.
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Separately, TheStreet Ratings team rates MARVELL TECHNOLOGY GROUP LTD as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate MARVELL TECHNOLOGY GROUP LTD (MRVL) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, attractive valuation levels, good cash flow from operations, growth in earnings per share and expanding profit margins. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."
You can view the full analysis from the report here: MRVL Ratings Report