Nomura Securities Maintains a 'Reduce' on Marvell (MRVL); One Good Quarter Doesn't Signify A Trend
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Price: $237.04 -5.57%
Rating Summary:
49 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
49 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Nomura Securities maintains a 'Reduce' on Marvell (NASDAQ: MRVL) price target of $13.00.
Analyst, Romit Shah, said, "Marvell reported a good FQ1 and guided all segments up for the July period. FQ1 results of $796mn/$0.18 were better than our estimate of $765mn/$0.15. While results were solid, one good quarter does not signify a trend. We believe prospects for growth in the core segments (storage, wireless, and networking) are limited. And we see downward pressure on gross margin into the 50-55% range as wireless becomes a larger part of the mix. We are raising our estimates from $0.91 to $0.99 in CY12 and from $1.20 to $1.25 in CY13."
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, Romit Shah, said, "Marvell reported a good FQ1 and guided all segments up for the July period. FQ1 results of $796mn/$0.18 were better than our estimate of $765mn/$0.15. While results were solid, one good quarter does not signify a trend. We believe prospects for growth in the core segments (storage, wireless, and networking) are limited. And we see downward pressure on gross margin into the 50-55% range as wireless becomes a larger part of the mix. We are raising our estimates from $0.91 to $0.99 in CY12 and from $1.20 to $1.25 in CY13."
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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