Northland Capital Markets Starts Marvell (MRVL) at Market Perform

Northland Capital Markets initiates coverage on Marvell (NASDAQ: MRVL) with a Market Perform rating and a price target of $15.00.

Analyst Tom Sepenzis commented, "Marvell is a top provider of components for the mobile, storage, IoT and networking markets with a broad-based portfolio and leading technology. Greater competition in its three core markets and investments in new businesses have limited top-line growth and pressured margins recently. However, MRVL is a solid generator of cash, is improving shareholder value through buybacks and dividends, and may finally see a payoff in the second half of CY15 in its wireless investments."

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 $14.01 yesterday.

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