Chipmaker Marvell Technology estimated third-quarter revenue below analysts' estimates, hurt by weak demand for its chips used in hard-disk drives.
Shares of the Hamilton, Bermuda-based company fell 10 percent to $8.30 in premarket trading on Monday.
Marvell estimated revenue of $674.1 million for the third quarter ended Oct. 31, a 27.5 percent fall from a year earlier.
Analysts on average were expecting revenue of $729.2 million, according to Thomson Reuters I/B/E/S.
Marvell said it expected a net loss of $61.7 million, or 12 cents per share, compared with earnings of $115.3 million, or 22 cents per share.