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Marvell Technology (MRVL) Stock Stumbles on Q2 Revenue Miss, Outlook

NEW YORK (TheStreet) -- Shares of Marvell Technology (MRVL) were falling 5.84% to $12.25 in pre-market trading on Tuesday after the company posted softer-than-expected revenue for the 2017 fiscal second quarter and gave downbeat guidance.

Before today's opening bell, the Hamilton, Bermuda-based semiconductor company said revenue dropped 12% to $626.40 million year-over-year. That figure fell short of analysts' estimates of $629.96 million.

Adjusted earnings of 18 cents per diluted share topped analysts' forecasts of 11 cents per share.

"We experienced a seasonally strong second quarter...