Marvell Technology

(MRVL) - Get Report

raised its estimate for fiscal second-quarter net revenue to $600 million to $630 million, a sequential increase of 15% to 21% from the first quarter.

Marvell, in a statement Monday, said the increase in projected revenue is "due to broad improvement in demand within multiple end-markets." The company said it anticipates "generating GAAP net income as a result of improved revenue levels."

The chipmaker previously estimated second-quarter revenue at $540 million to $580 million.

Analysts surveyed by Thomson Reuters expect second-quarter earnings of 10 cents a share on revenue of $559.3 million.

"We are optimistic in our near-term outlook based on the improved order rate we have experienced so far in our second quarter, which we believe generally signals some strengthening in our customers' expectations for their businesses," said Sehat Sutardja, Marvell chairman, president and chief executive.

Sutardja also urged caution over the "demand environment for the next few quarters in light of what the industry has experienced in the past nine months."