BofA Securities Reiterates Neutral Rating on Marvell (MRVL) after management meetings

BofA Securities analyst Vivek Arya reiterated a Neutral rating and $51.00 price target on Marvell (NASDAQ: MRVL).

"The goal of the webinar was to examine the competitive landscape in pluggable optics and address recent investor concern about MRVL’s digital signal processor (DSP)-based pluggables, a leadership franchise accounting for ~15% of company sales growing at a 20%+ CAGR. Our overall conclusion is MRVL’s DSP franchise has a strong growth runway, while claims of market share shifts might be overstated. Maintain Buy."

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 $40.16 yesterday.

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