Canaccord Genuity Starts Marvell (MRVL) at Buy; See Revenue and Earnings Growth Topping Peers
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Price: $11.57 +2.03%
Rating Summary:
12 Buy, 20 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Rating Summary:
12 Buy, 20 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 30
Trade MRVL Now!
Canaccord Genuity initiates coverage on Marvell (NASDAQ: MRVL) with a Buy. PT $20.00.
Analyst, Bobby Burleson, said, "We expect revenue and earnings growth to outstrip the broader semiconductor market in 2012, based on a recovery for the company’s core HDD business, rising demand for TD-SCDMA smartphones, and a shift to merchant SSD controllers that should favor MRVL’s technology leadership."
"Buyback, if used, could make valuation even more attractive – Buyback increased to $638M (7% of shares out), could drive incremental EPS growth of 9%."
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 $15.94 yesterday, with a 52 week range of $11.23-$20.42.
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Analyst, Bobby Burleson, said, "We expect revenue and earnings growth to outstrip the broader semiconductor market in 2012, based on a recovery for the company’s core HDD business, rising demand for TD-SCDMA smartphones, and a shift to merchant SSD controllers that should favor MRVL’s technology leadership."
"Buyback, if used, could make valuation even more attractive – Buyback increased to $638M (7% of shares out), could drive incremental EPS growth of 9%."
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 $15.94 yesterday, with a 52 week range of $11.23-$20.42.
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