Needham & Company Maintains a 'Buy' on Marvell (MRVL); Q1 Review - Raising Outlook
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Price: $234.33 +5.54%
Rating Summary:
49 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
49 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Needham & Company maintains a 'Buy' on Marvell (NASDAQ: MRVL) price target of $19.00.
Analyst, N. Quinn Bolton, said, "Marvell reported F1Q12 results that exceeded guidance and issued F2Q13 guidance in line with our expectations. Marvell is seeing strong demand for its more advanced technologies as well as increasing TD-SCDMA sales following China Mobile’s announcement to grow TD SmartPhone units by over 2.5 times this year. With the repercussions of Thailand flooding coming to an end in F2Q12, we expect strong sequential HDD growth over the next several quarters and a return to higher levels of profitability."
"Our FY13 revenue and non-GAAP EPS estimate increase to $3.6bn/$1.24 from $3.58bn/$1.18. Our FY14 revenue remains unchanged and non-GAAP EPS estimate increases slightly to $1.55 from $1.50."
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 $13.30 yesterday.
Analyst, N. Quinn Bolton, said, "Marvell reported F1Q12 results that exceeded guidance and issued F2Q13 guidance in line with our expectations. Marvell is seeing strong demand for its more advanced technologies as well as increasing TD-SCDMA sales following China Mobile’s announcement to grow TD SmartPhone units by over 2.5 times this year. With the repercussions of Thailand flooding coming to an end in F2Q12, we expect strong sequential HDD growth over the next several quarters and a return to higher levels of profitability."
"Our FY13 revenue and non-GAAP EPS estimate increase to $3.6bn/$1.24 from $3.58bn/$1.18. Our FY14 revenue remains unchanged and non-GAAP EPS estimate increases slightly to $1.55 from $1.50."
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 $13.30 yesterday.
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