NEW YORK (TheStreet) -- Shares of Marvell Technology (MRVL) - Get Report are up 7.11% to $12.50 in after-hours trading on Wednesday as better-than-expected 2017 second-quarter guidance overshadows a first-quarter earnings and revenue miss.
After the market close, the company said it expects 2017 second quarter earnings per share between 10 cents and 12 cents on revenue between $625 million and $635 million. Analysts are looking for earnings of 9 cents per share on revenues of $586 million.
For the first quarter, Marvell reported earnings of 1 cent per share, lower than analysts' estimates of 7 cents per share.
Revenue was $541 million, down approximately 25% year-over-year and below analysts' estimates of $573.72 million.
Marvell Technology is a Bermuda-based semiconductor company.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate MARVELL TECHNOLOGY GROUP LTD as a Hold with a ratings score of C. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow.
You can view the full analysis from the report here: MRVL