Canaccord Genuity Maintains a 'Buy' on Marvell (MRVL); Accumulate Ahead of Bottoming PC's
Tweet Send to a FriendGet Alerts MRVL Hot Sheet
Price: $11.59 --0%
Rating Summary:
11 Buy, 22 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 2 | Down: 5 | New: 6
Rating Summary:
11 Buy, 22 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 2 | Down: 5 | New: 6
Trade MRVL Now!
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, with a 52 week range of $10.27-$16.86.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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, with a 52 week range of $10.27-$16.86.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: UBS Downgrades Carnival (CCL) to Neutral; Worst May Not Be Behind
- Goldman Sachs Upgrades Abbott Labs (ABT) to Buy
- Best Buy (BBY) May Show Progress on Earnings Front, UBS Remains Neutral
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS View, Analyst PT ChangeRelated Entities
Dividend, Earnings, Canaccord Genuity
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
