Marvell FY1Q25 earnings: Harnessing the AI revenue
Big surprise on 2023E earnings; TP raised
Quality growth strategy underpins strong earnings growth
Earnings expectation is settling
–3Q23 earnings beat on strong operating leverage and business innovation
2Q24 beat on EV GPM and resilient core earnings; Reiterate BUY
1Q24 core earnings beat estimates; Shifted to profitable growth strategy
2Q23 preview: solid earnings growth despite social entertainment business adjustment
–Earnings in-line; Mgmt. changes imply a new round of expansion
Impressive 1Q23 earnings; Higher earnings forecast & TP; More catalysts ahead