Benchmark Downgrades Marvell (MRVL) to Hold; Valuation - Catalysts Already Look Priced In
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Price: $222.02 --0%
Rating Summary:
49 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 12 | New: 19
Rating Summary:
49 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 12 | New: 19
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Benchmark downgraded Marvell (NASDAQ: MRVL) from Buy to Hold.
Benchmark analyst says, "Shares of Marvell Tech. have risen approximately 18% during 2012, roughly matching the performance of the SOX (Philadelphia Semiconductor Index) and besting the NASDAQ by 800bp. Shares of Marvell have performed well based on two sentiment bets. First, investors have bid up Marvell shares based on a belief 4Q11 represented the bottom for HDD supply. Second, it is evident that industry-wide chip order rates have improved during the past several weeks, which is a function of improving demand for electronics goods as well as inventory restocking (or normalization) of the supply chain. We believe both catalysts should bode well for Marvell's revenue growth during FY13 (Jan). More importantly, however, we believe these catalysts are already priced into Marvell shares."
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 $16.05 yesterday.
Benchmark analyst says, "Shares of Marvell Tech. have risen approximately 18% during 2012, roughly matching the performance of the SOX (Philadelphia Semiconductor Index) and besting the NASDAQ by 800bp. Shares of Marvell have performed well based on two sentiment bets. First, investors have bid up Marvell shares based on a belief 4Q11 represented the bottom for HDD supply. Second, it is evident that industry-wide chip order rates have improved during the past several weeks, which is a function of improving demand for electronics goods as well as inventory restocking (or normalization) of the supply chain. We believe both catalysts should bode well for Marvell's revenue growth during FY13 (Jan). More importantly, however, we believe these catalysts are already priced into Marvell shares."
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 $16.05 yesterday.
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