Marvell Technology (MRVL) Files $1.23B Mixed Shelf

Marvell (MRVL) Falls on a Weak FQ3 Outlook, Craig-Hallum Downgrades to 'Hold' While Others Remain More Positive

August 27, 2021 10:18 AM EDT

Shares of Marvell Technology (NASDAQ: MRVL) are down almost 4% today after the company delivered slightly weaker-than-expected FQ3 results.

Marvell reported Q2 EPS of $0.34 to beat the analyst estimate of $0.31. Revenue for the quarter came in at $1.08 billion versus the consensus estimate of $1.07 billion.

Growth was driven by the data center, which now represents Marvell's largest end market at 40 percent of total revenue, benefiting from our growing momentum in the fast-growing cloud infrastructure market," said Matt Murphy, Marvells President and CEO.

Marvell Technology projects Q3 EPS of $0.35-$0.41, with the... More

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August 27, 2021 9:16 AM EDT

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Credit Suisse Sees 4 Reasons to Own Marvell (MRVL)

August 27, 2021 8:58 AM EDT

Credit Suisse analyst John Pitzer reiterated an Outperform rating and $70.00 price target on Marvell (NASDAQ: MRVL) after the company beat expectations, as expected. F2Q/F3Q Rev/EPS was modestly above expectations despite supply constraints as delinquencies have grown each... More

Marvell (MRVL) PT Raised to $70 at Piper Sandler

August 27, 2021 8:56 AM EDT

Piper Sandler analyst Harsh Kumar raised the price target on Marvell (NASDAQ: MRVL) to $70.00 (from $60.00) while maintaining a Overweight rating.... More

Marvell (MRVL) PT Raised to $57 at Cowen

August 27, 2021 7:53 AM EDT

Cowen analyst Karl Ackerman raised the price target on Marvell (NASDAQ: MRVL) to $57.00 (from $55.00) while maintaining a Market Perform rating following earnings.

The analyst commented, "MRVL exceeded initial JulQ expectations on expense management and guided OctQ consistent with Street expectations. The new reporting... More

Marvell (MRVL) PT Raised to $72 at UBS

August 27, 2021 7:37 AM EDT

UBS analyst Timothy Arcuri raised the price target on Marvell (NASDAQ: MRVL) to $72.00 (from $68.00) while maintaining a Buy rating.... More

Craig-Hallum Downgrades Marvell (MRVL) to Hold

August 27, 2021 7:29 AM EDT

Craig-Hallum analyst Christian Schwab downgraded Marvell (NASDAQ: MRVL) from Buy to Hold with a price target of $63.00.

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 $63.24 yesterday.

... More

Marvell (MRVL) PT Raised to $75 at B.Riley

August 27, 2021 7:28 AM EDT

B.Riley analyst Craig Ellis raised the price target on Marvell (NASDAQ: MRVL) to $75.00 (from $72.00) while maintaining a Buy rating.... More

Marvell (MRVL) PT Raised to $69 at Needham & Company

August 27, 2021 6:59 AM EDT

Needham & Company analyst Quinn Bolton raised the price target on Marvell (NASDAQ: MRVL) to $69.00 (from $67.50) while maintaining a Buy rating.

The analyst commented, "Marvell reported solid results and provided F3Q22 revenue guidance that was modestly above the Street's estimates due to supply... More

Marvell (MRVL) PT Raised to $74 at Stifel

August 27, 2021 6:42 AM EDT

Stifel analyst Tore Svanberg raised the price target on Marvell (NASDAQ: MRVL) to $74.00 (from $70.00) while maintaining a Buy rating following earnings. The analyst highlighted:

Reports nice beat & raise, with record NG GMs of 64.8% and record NG OMs of 30.8%, on broad-based strength... More