CST Inc,DDR5,DDR4,DDR3,DDR2,DDR,Nand,Nor,Flash,MCP,LPDDR,LPDDR2,LPDDR3,LPDDR4,LRDIMM, Memory Tester Automatic DIMM SODIMM Handler Company Provides Memory Solution

Marvell Technology reported sales and profit for the quarter ended Jan. 29 that came up short of analysts' expectations, citing seasonal declines.

Marvell reported sales for the quarter of $901 million, down 6 percent compared to the previous quarter and up 7 percent compared to the year-ago quarter. The company reported a net income in accordance with generally accepted accounting principles (GAAP) of $223 million, or 33 cents per share, down 13 percent from the previous quarter and up 9 percent compared to the year-ago quarter.

Marvell also said Thursday that its board of directors has authorized the company to increase its total funding for repurchasing shares to $1 billion from $500 million.