Deutsche Bank Maintains a 'Buy' on Marvell (MRVL) Multiple Reflects Strong Margins, Cash Generation and Solid Balance Sheet
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Price: $63.86 --0%
Rating Summary:
45 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 7 | New: 7
Rating Summary:
45 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 7 | New: 7
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Deutsche Bank maintains a 'Buy' on Marvell (NASDAQ: MRVL) price target of $15.00 (from $18.00).
Analyst, Ross Seymore, said, "MRVL delivered F2Q13 results and guidance well below DBe/Street expectations as soft macro conditions were compounded by competitive pressures. Looking fwd, Storage and Networking revs are expected to grow despite a flattish TAM, but these gains will be offset by a sharp decline in Mobile & Wireless. While we expect the shares to react negatively to yesterday's report, we retain our Buy rating based on MRVL's potential to gain share in Storage and Networking with a recovery in Wireless possible in mid-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 $12.28 yesterday.
Analyst, Ross Seymore, said, "MRVL delivered F2Q13 results and guidance well below DBe/Street expectations as soft macro conditions were compounded by competitive pressures. Looking fwd, Storage and Networking revs are expected to grow despite a flattish TAM, but these gains will be offset by a sharp decline in Mobile & Wireless. While we expect the shares to react negatively to yesterday's report, we retain our Buy rating based on MRVL's potential to gain share in Storage and Networking with a recovery in Wireless possible in mid-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 $12.28 yesterday.
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