UPDATE: UBS Downgrades Marvell (MRVL) to Neutral; Expectations from Wireless and Storage Lowered
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Price: $63.86 --0%
Rating Summary:
45 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 8 | New: 13
Rating Summary:
45 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 8 | New: 13
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(Updated - May 9, 2012 12:26 PM EDT)
UBS downgraded Marvell (NASDAQ: MRVL) from Buy to Neutral, price target cut from $18 to $14.
Analys t, Uche Orji, said, "As part of our sector downgrade to Neutral, we downgrade MRVL to Neutral for three reasons: 1) HDD recovery is well anticipated with the current consensus estimates and a narrowing of HDD/SSD price disparity and rising competition in SSD SoCs could modestly pressure the 2H growth, 2) With new entrants in TD-SCDMA market, competitive and ASP pressure is rising, 3) mixed trends in comm equipment will weigh on near term as JNPR and BRCD are key customers. We lower our above cons F13/14E EPS -9%/-16% to $1.21/$1.48 (FY13/14 sales cut to $3.58bn/$4.05bn)."
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 $13.90 yesterday.
UBS downgraded Marvell (NASDAQ: MRVL) from Buy to Neutral, price target cut from $18 to $14.
Analys t, Uche Orji, said, "As part of our sector downgrade to Neutral, we downgrade MRVL to Neutral for three reasons: 1) HDD recovery is well anticipated with the current consensus estimates and a narrowing of HDD/SSD price disparity and rising competition in SSD SoCs could modestly pressure the 2H growth, 2) With new entrants in TD-SCDMA market, competitive and ASP pressure is rising, 3) mixed trends in comm equipment will weigh on near term as JNPR and BRCD are key customers. We lower our above cons F13/14E EPS -9%/-16% to $1.21/$1.48 (FY13/14 sales cut to $3.58bn/$4.05bn)."
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 $13.90 yesterday.
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