Deutsche Bank Maintains a 'Buy' on Marvell (MRVL) Multiple Reflects Strong Margins, Cash Generation and Solid Balance Sheet

August 17, 2012 9:40 AM EDT Send to a Friend
Get Alerts MRVL Hot Sheet
Price: $12.68 -0.55%

Rating Summary:
    17 Buy, 19 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 29 | Down: 28 | New: 24
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Deutsche Bank maintains a 'Buy' on Marvell (NASDAQ: MRVL) price target of $15.00 (from $18.00).

Analyst, Ross Seymore, said, "MRVL delivered F2Q13 results and guidance well below DBe/Street expectations as soft macro conditions were compounded by competitive pressures. Looking fwd, Storage and Networking revs are expected to grow despite a flattish TAM, but these gains will be offset by a sharp decline in Mobile & Wireless. While we expect the shares to react negatively to yesterday's report, we retain our Buy rating based on MRVL's potential to gain share in Storage and Networking with a recovery in Wireless possible in mid-CY13."

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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