Why Marvell Technology Rallied 19.2% in December
Shares of chipmaker Marvell Technology (NASDAQ: MRVL) rallied 19.2% in December, according to data from S&P Global Market Intelligence.
Marvell had a very busy month, reporting its fiscal third-quarter earnings while also making several positive announcements regarding its technology and key partnerships. So, it's no wonder the stock rallied in December to finish the year up 83%.
In its fiscal third quarter, Marvell grew revenue 7% to $1.52 billion, while adjusted (non-GAAP) earnings per share rose 5% to $0.43. While these growth figures may not blow anyone away, they did beat analyst expectations. Moreover, the underlying growth of Marvell's key segments was much more encouraging.
Source Fool.com
