Nomura Securities Maintains a 'Reduce' on Marvell (MRVL); Cutting Estimates & PT After Q2 Review
Tweet Send to a FriendGet Alerts MRVL Hot Sheet
Price: $11.43 +1.15%
Rating Summary:
11 Buy, 22 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
11 Buy, 22 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade MRVL Now!
Nomura Securities maintains a 'Reduce' on Marvell (NASDAQ: MRVL) price target of $11.00 (from $13.00).
Analyst, Romit Shah, said, "F2Q review; weak quarter/guide, maintain Reduce. Marvell reported F2Q (Jul) revenue and EPS of $816mn/$0.18 (incl. ESO), lower than our estimates of $865mn/$0.23. F3Q revenue guide of up $824m (-2% to +4%) was well below our estimate of $921m, primarily driven by Mobile and Wireless. We are reducing our CY12 estimates from $3.5bn/$0.99 to $3.3bn/$0.76 and CY13 estimates from $3.9bn/ $1.25bn to $3.7bn/ $1.00...The company has $4 in net cash per share."
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.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Romit Shah, said, "F2Q review; weak quarter/guide, maintain Reduce. Marvell reported F2Q (Jul) revenue and EPS of $816mn/$0.18 (incl. ESO), lower than our estimates of $865mn/$0.23. F3Q revenue guide of up $824m (-2% to +4%) was well below our estimate of $921m, primarily driven by Mobile and Wireless. We are reducing our CY12 estimates from $3.5bn/$0.99 to $3.3bn/$0.76 and CY13 estimates from $3.9bn/ $1.25bn to $3.7bn/ $1.00...The company has $4 in net cash per share."
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.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Morgan Stanley Says Tesla (TSLA) 'Top Pick in U.S. Autos'
- Supernus (SUPN) PT Trimmed at Jefferies, But Survey Shows Significant Market Opportunity
- Wells Fargo Downgrades Aruba Networks (ARUN) to Market Perform
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Nomura
Login with Facebook
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!
