Marvell Technology Group Ltd. Announces Significant Restructuring of Mobile Platform Business

FBR Capital Raises Price Target on Marvell Technology (MRVL) Following Announced Mobile Platform Restructuring

FBR Capital reiterated a Market Perform rating on Marvell (NASDAQ: MRVL), and raised the price target to $11.00 (from $9.00), following the company's announced plans to restructure its mobile platform division. The company plans to right size the divisions expenses and to focus on more profitable investments.

Analyst Christopher Rolland commented, "After the close on Thursday, September 24, Marvell announced a plan to significantly... More

Craig-Hallum Upgrades Marvell (MRVL) to Buy

Craig-Hallum upgraded Marvell (NASDAQ: MRVL) from Hold to Buy with a price target of $14.00.

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 $9.03 yesterday.

RBC Capital Raises Price Target on Marvell Technology (MRVL) Following Announced Downsize of Mobile Platform

RBC Capital reiterated a Sector Perform rating on Marvell (NASDAQ: MRVL), and raised the price target to $10.00 (from $9.00), following announced downsize of the company's mobile platform. While the restructuring initiative will likely be taken as a positive (material reduction in losses)... More

Piper Jaffray Remains Neutral on Marvell Technology (MRVL) Following Announced Restructure of Mobile Business

Piper Jaffray maintained a Neutral rating and $14.00 price target on Marvell (NASDAQ: MRVL) following announced plans to restructure mobile business. The company is restructuring the business to focus on more profitable opportunities.

Analyst Ruben Roy commented, "We view MRVL's announced plans to restructure their mobile business... More

Cowen Remains Bullish on Marvell Technology (MRVL) Following Announced Mobile Platform Closing

Cowen reiterated an Outperform rating and $14.00 price target on Marvell (NASDAQ: MRVL) following announced closing of the company's mobile platform business. It appears that the company was a victim of bad timing in negotiating a sale or spin-off, with increased competition in... More

Susquehanna Remains Neutral on Marvell Technology (MRVL) Following Announced Closing of Handset Business

Susquehanna maintained a Neutral rating and $9.00 price target on Marvell (NASDAQ: MRVL) following the announced resolution of its wireless handset business. Unfortunately, rather than finding a buyer for the business, MRVL has made the decision to close it down. The company intends to significantly downsize its mobile organization to refocus its technology on emerging opportunities in IoT, automotive and networking.

Analyst... More

Marvell Technology (MRVL) Announces 17% Reduction in Global Headcount

Marvell Technology Group Ltd. (NASDAQ: MRVL) today announced a significant restructuring of its mobile platform business in order to focus the mobile product line on anticipated more profitable opportunities and right-size its expenses in line with corporate targets. Marvell will continue its strong commitment to wireless connectivity such as WiFi and other wireless standards needed to support its strategies in existing markets as well as expanding into emerging opportunities in IoT and automotive.

As approved by the Company's Board of Directors, the Company... More