Needham & Company Reiterates a 'Buy' on Marvell (MRVL); Shares are Compellingly Cheap and Growth Drivers Are On Track
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Price: $222.02 -0.07%
Rating Summary:
49 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
49 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Buy' on Marvell (NASDAQ: MRVL) price target of $19.00.
Needham analyst says, "Marvell reported F2Q12 results that were better than expectations and provided better-than-feared guidance. Stronger than expected growth in Storage as HGST ramped to steady state production led to the 2Q upside. Mobile & Wireless will drive F3Q12 with the continued ramp of TD-SCDMA smartphones and strong seasonality in embedded wireless. MRVL has seen good linearity in order patterns, currently has normal backlog coverage, and while consumption is likely to be somewhat subdued, particularly in storage, the company believes macro conditions have not materially deteriorated. With multiple growth levers to offset flattish storage in C3Q11 and a growing cash hoard, we think MRVL is as safe a haven as any to hide from macro-uncertainty."
For more ratings news on Marvell click here and for the rating history of Marvell click here.
Shares of Marvell closed at $11.97 yesterday.
Needham analyst says, "Marvell reported F2Q12 results that were better than expectations and provided better-than-feared guidance. Stronger than expected growth in Storage as HGST ramped to steady state production led to the 2Q upside. Mobile & Wireless will drive F3Q12 with the continued ramp of TD-SCDMA smartphones and strong seasonality in embedded wireless. MRVL has seen good linearity in order patterns, currently has normal backlog coverage, and while consumption is likely to be somewhat subdued, particularly in storage, the company believes macro conditions have not materially deteriorated. With multiple growth levers to offset flattish storage in C3Q11 and a growing cash hoard, we think MRVL is as safe a haven as any to hide from macro-uncertainty."
For more ratings news on Marvell click here and for the rating history of Marvell click here.
Shares of Marvell closed at $11.97 yesterday.
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