Marvell Technology (MRVL) Remains an Excellent Take-Out Candidate - Rosenblatt

September 6, 2016 11:34 AM EDT
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Price: $14.23 -1.66%

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Rosenblatt analyst Kinngai Chan said Marvell Technology (NASDAQ: MRVL) remains a good take-out candidate as medium to long-term prospects remain limited.

Chan commented, "We believe MRVL’s October guidance is very conservative and expect MRVL to outperform their outlook. We continue to believe MRVL’s storage business is about a $300M per quarter type business but is expected to experience a secular medium term decline due to the decline of the HDD SoC TAM partially offset by growth from SSD SoC. We believe the Networking and the Mobile/ Wireless business is rightly sized at the moment with the potential to grow at industry growth rates if managed well. As we believe MRVL’s growth prospect is limited in the medium to longer term with the current businesses and product lines, we think the company remains an excellent take-out candidate."

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