Chipmaker Marvell Technology Group (MRVL) late Thursday beat Wall Street's targets for its fiscal second quarter. But its guidance was below views because of U.S. trade restrictions with China telecom giant Huawei. The Marvell earnings report pushed MRVL stock lower in late trading.

The Santa Clara, Calif.-based company earned an adjusted 16 cents a share on sales of $657 million in the quarter ended Aug. 3. Analysts expected Marvell earnings of 15 cents a share on sales of $650 million, according to Zacks Investment Research. On a year-over-year basis, Marvell earnings fell 43% while sales dipped 1%.

For the current quarter, Marvell expects to earn an adjusted 17 cents a share on sales of $600 million. That's based on the midpoint of its guidance. Wall Street predicted Marvell earnings of 21 cents a share on sales of $694 million for its fiscal third quarter. In the year-earlier period, Marvell earned 33 cents a share on sales of $851 million.