JMP Securities Downgrades Marvell (MRVL) to Market Perform after Jury Verdict

December 27, 2012 7:01 AM EST Send to a Friend
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Price: $12.47 +2.63%

Rating Summary:
    17 Buy, 19 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 37 | Down: 17 | New: 30
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JMP Securities downgraded Marvell (NASDAQ: MRVL) from Market Outperform to Market Perform following yesterday's negative jury ruling.

The firm sees too many fundamental and sentiment headwinds to maintain their rating. They also note that the company plans to appeal the verdict, meaning the recent buyback and dividend aren't in imminent jeopardy.

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 $7.40 yesterday.


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