India, March 8 -- Shares of Marvell Technology, Inc. (MRVL), a data infrastructure semiconductor solutions provider, are down more than 5 percent in pre-market on Friday at $80.48, after the company's first-quarter outlook stood below the Street expectations.
Marvell Technology now expects revenue to be $1.150 billion plus or minus 5% for the first quarter. Adjusted EPS for the quarter is expected to be $0.23 plus or minus $0.05 per share for the quarter.
On average, 24 analysts polled by Thomson-Reuters expect the company to report earnings of $0.40 per share on revenue of $1.37 billion for the quarter.
For the fourth quarter, the company reported a net loss of $392.7 million or $0.45 per share, wider than $164.3 million or $0.19 per sh...