🔴 Marvell Technology Group is trading 5% down in after-hours trading after apparent profit-taking

Marvell Technology Group is trading 5% down at $228.71 in after-hours trading amid what appeared to be profit-taking after a substantial August run-up.

• Following its August 27 earnings release, fiscal Q2 revenue was $2.74 billion and adjusted EPS was $0.94, beating estimates.
• Marvell guided fiscal Q3 revenue to $3.15 billion and adjusted EPS to $1.10, ahead of consensus.
• Shares nevertheless slipped, suggesting concerns over high expectations.