Canaccord Genuity Maintains a 'Buy' on Marvell (MRVL); Accumulate Ahead of Bottoming PC's
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Price: $66.65 +2.78%
Rating Summary:
45 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
Rating Summary:
45 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
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Canaccord Genuity maintains a 'Buy' on Marvell (NASDAQ: MRVL) price target of $15.00 (from $20.00).
Analyst, Bobby Burleson, said, "We reiterate a rating for MRVL, as we believe soft HDD seasonality telegraphed weak results while firming PC builds should improve sentiment around suppliers into the PC vertical. Recent TD wins and management's implementation of a dividend are additional positives in a tough environment."
"We believe weak guidance was widely expected as management has been upfront with respect to weak data points since their last earnings release, including weak HDD data from key OEMs and a slowdown for TD business in China due to weak consumer demand."
For an analyst ratings summary and ratings history on Marvell click here. For more ratings news on Marvell click here.
Shares of Marvell closed at $12.28 yesterday.
Analyst, Bobby Burleson, said, "We reiterate a rating for MRVL, as we believe soft HDD seasonality telegraphed weak results while firming PC builds should improve sentiment around suppliers into the PC vertical. Recent TD wins and management's implementation of a dividend are additional positives in a tough environment."
"We believe weak guidance was widely expected as management has been upfront with respect to weak data points since their last earnings release, including weak HDD data from key OEMs and a slowdown for TD business in China due to weak consumer demand."
For an analyst ratings summary and ratings history on Marvell click here. For more ratings news on Marvell click here.
Shares of Marvell closed at $12.28 yesterday.
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