Canaccord Genuity Starts Marvell (MRVL) at Buy; See Revenue and Earnings Growth Topping Peers

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.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• BMO Capital Starts Marvell (MRVL) at Outperform
• Mizuho Reiterates Outperform Rating on Broadcom Limited (AVGO) Into EPS
• Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics