Jefferies Suggests Buying Marvell (MRVL) on Weakness
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Price: $11.34 +0.27%
Rating Summary:
11 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
11 Buy, 21 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade MRVL Now!
Jefferies maintains a 'Buy' on Marvell (NASDAQ: MRVL) price target of $15.00.
Analyst, Mark Lipacis, said, "MRVL missed Q2 Revenues by 450bps and Non-GAAP EPS by $0.02, driven by a weak macro, lackluster PC sales, and demand softness in North America and China. We expect near term weakness as Q3 revenue guidance was 1000bps below consensus. With a FCF yield of 11% and an EV/FCF of 7.6x, we think the risk reward is attractive, and are buyers on weakness."
FY12 EPS estimate lowered from $1.15 to $0.98 and FY13 from $1.36 to $1.36.
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.
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Analyst, Mark Lipacis, said, "MRVL missed Q2 Revenues by 450bps and Non-GAAP EPS by $0.02, driven by a weak macro, lackluster PC sales, and demand softness in North America and China. We expect near term weakness as Q3 revenue guidance was 1000bps below consensus. With a FCF yield of 11% and an EV/FCF of 7.6x, we think the risk reward is attractive, and are buyers on weakness."
FY12 EPS estimate lowered from $1.15 to $0.98 and FY13 from $1.36 to $1.36.
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.
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