Canaccord Genuity Maintains a 'Buy' on Marvell (MRVL); Raising Estimates
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Price: $66.48 -2.64%
Rating Summary:
45 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 13 | New: 18
Rating Summary:
45 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 13 | New: 18
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Canaccord Genuity maintains a 'Buy' on Marvell (NASDAQ: MRVL) price target of $20.00.
Analyst, Bobby Burleson, said, "We remain BUY rated on MRVL following the reported upside on TD smartphones and 500GB storage and initiation of a $0.06 quarterly dividend and a $500 million increase to its share repurchase authorization. Despite flood-related demand having run its course, Storage growth should continue driven by rapid adoption of 500GB products, while Mobile & Wireless growth continues on TD smartphone strength and seasonal pick-up for connectivity. The company also expects a broad recovery for Networking in the quarter."
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, Bobby Burleson, said, "We remain BUY rated on MRVL following the reported upside on TD smartphones and 500GB storage and initiation of a $0.06 quarterly dividend and a $500 million increase to its share repurchase authorization. Despite flood-related demand having run its course, Storage growth should continue driven by rapid adoption of 500GB products, while Mobile & Wireless growth continues on TD smartphone strength and seasonal pick-up for connectivity. The company also expects a broad recovery for Networking in the quarter."
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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