Bear of the Day: Marvell (MRVL)

Marvell Technology ((MRVL) reported better-than-expected results for the third quarter of fiscal 2024, as the top and bottom lines outpaced the Zacks Consensus Estimates.Plus, the chipmaker’s Q3 revenues and earnings came above the midpoint of management’s guidance range.Despite reporting stronger-than-expected Q3 results, MRVL stock fell 10% over the coming week as its guidance for Q4 top and bottom lines fell short of the consensus mark.And the primary catalyst to dump MRVL into the cellar of the Zacks Ra ...