UPDATE: Canaccord Genuity Downgrades Marvell (MRVL) to Hold, Storage and Mobile Headwinds
Tweet
Share
E-mailGet Alerts MRVL Hot Sheet
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
Join SI Premium – FREE
(Updated - September 26, 2012 8:59 AM EDT)
Canaccord Genuity downgraded Marvell (NASDAQ: MRVL) from Buy to Hold with a price target of $9.00 (from $15.00).
"We are downgrading our rating to HOLD on shrinking HDD TAM and TD-SCDMA share loss," analyst Bobby Burleson comments. "We are lowering our estimates and see potential for additional revisions. While MRVL is trading near its 52-week low, we
believe further downside is likely as Street consensus estimates move lower. We believe the dividend provides enough support to preclude a SELL rating."
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 $9.24 yesterday.
Canaccord Genuity downgraded Marvell (NASDAQ: MRVL) from Buy to Hold with a price target of $9.00 (from $15.00).
"We are downgrading our rating to HOLD on shrinking HDD TAM and TD-SCDMA share loss," analyst Bobby Burleson comments. "We are lowering our estimates and see potential for additional revisions. While MRVL is trading near its 52-week low, we
believe further downside is likely as Street consensus estimates move lower. We believe the dividend provides enough support to preclude a SELL rating."
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 $9.24 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BMO Capital Starts Marvell (MRVL) at Outperform
- JPMorgan Reiterates Overweight Rating on Marvell (MRVL)
- Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
Create E-mail Alert Related Categories
Analyst EPS Change, Analyst PT Change, DowngradesRelated Entities
Dividend, Canaccord GenuitySign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
