Marvell Technology (MRVL): Margin Improvement is Gravy - Cowen

Cowen analyst, Timothy Arcuri, reiterated his Outperform rating on shares of Marvell (NASDAQ: MRVL). Next week's report should represent a NT bottom in EPS where MRVL is still probably close to breakeven including stock comp. Management struck the right tone while also laying teasers for what should be massive cost cuts and re-focusing. Even w/little to no business improvement, EPS power should get back to ~ $1/sh w/potential storage operating margin improvement as gravy.

No change to the price target of $15.

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 $9.85 yesterday.

You May Also Be Interested In

• Raymond James Downgrades Western Digital Corp. (WDC) to Market Perform 'primarily on valuation'
• JPMorgan Downgrades Five Below (FIVE) to Neutral
• HSBC Starts Auna SA (AUNA) at Buy, 'Just what the doctor prescribed'