Marvell Technology (MRVL) Gets A Boost From Positive Barron's Mention

Shares of Marvell Technology (Nasdaq: MRVL) are higher this morning following a positive piece in Barron's this weekend.

The article discussed the rise of Marvell to a $20 billion market-cap company in early 2006 and then its dramatic fall from grace following a stock-option scandal and margin pressure from acquisitions. Marvell lost 2/3's of its value in the last two years.

The article said, despite its setbacks, business prospects at Marvell look solid, as the company's core data storage products are become more popular and the company will start shipping new offerings for consumer electronics and 3G smartphones, including RIM's Blackberry, soon.

A buy-side investor from J&W Seligman thinks the company can earn $1.00-$1.50 in FY10 and the stock could return to the 20 p/e multiple it enjoyed in the past. This could make the stock a double from current levels.

Link to Barron's Article

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