Cowen Remains bullish on Marvell Technology (MRVL) Ahead of 3Q Release
- Wall Street falls with financials, other post-election gainers
- The FTC Confirms Antitrust Charges Against Qualcomm (QCOM) for Monopolizing Semiconductor Device Used in Cell Phones
- United Airlines (UAL) Tops Q4 EPS by 5c
- Obama shortens sentence of Manning, who gave secrets to WikiLeaks
- After-Hours Stock Movers 01/17: (SHLO) Higher; (GIMO) (AFAM) (CSX) Lower (more...)
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Cowen reiterated an Outperform rating and $16.00 price target on Marvell Technology (NASDAQ: MRVL) ahead of the company's 3Q earnings report. Cowen is expecting revenues and EPS to be largely in-line with the Street's $616MM and $0.12 estimates.
Analyst Timothy Arcuri commented, "Despite fears of a guide-below, we see numbers being "okay". Recent cost cutting announcement is in-line w/our model; additional surgical measures are likely too, and supply chain mgmt remains a huge lever for GM. From there, MRVL has >$2.5B in liquidity (cash, borrowing, real estate) to continue driving toward high margin infrastructure and away from consumer. $1.40 baseline EPS power, $16 tgt."
Shares of Marvell closed at $13.19 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Gigamon, Inc. (GIMO) Prelim. Q4 Revenue Falls Short of Consensus
- Morgan Stanley (MS) Tops Q4 EPS by 17c
- FBR Capital Remains Sidelined on Comerica (CMA) Following 4Q Report
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesCowen & Co, Earnings
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!