UPDATE: Marvell (MRVL) PT Lowered to $78 at Citi, 'continue to view MRVL as a multi-year data center growth story'

Pre-Open Stock Movers 05/27: Dell, Ulta Surge on Earnings Beats; Gap Plunges (more...)

Pre-Open Stock Movers:

Iovance Biotherapeutics, Inc. (NASDAQ: IOVA) 47% LOWER; reported clinical results from its C-144-01 clinical study in patients with advanced (unresectable or metastatic) melanoma who progressed on prior anti-PD-1/L1 therapy, and if BRAF mutation positive, also on prior BRAF or BRAF/MEK inhibitor therapy.

ClearSign Technologies Corporation (Nasdaq:... More

Marvell (MRVL) PT Lowered to $75 at Needham & Company; 'on Path to Grow Nearly 40% in FY23'

Needham & Company analyst N. Quinn Bolton lowered the price target on Marvell (NASDAQ: MRVL) to $75.00 (from $105.00) while maintaining a Buy rating following earnings.

The analyst commented, "MRVL's F1Q23 revenue was near the high-end of guidance and NG EPS beat by... More

Marvell (MRVL) PT Lowered to $90 but BofA Securities Expects Improvement Throughout the Year

BofA Securities analyst Vivek Arya lowered the price target on Marvell (NASDAQ: MRVL) to $90.00 (from $100.00) after the company reported AprQ sales/EPS 1-2% ahead with data center 6% ahead, offset by enterprise networking which was 4% below expectation, due to supply related headwinds. Demand remained... More

Marvell (MRVL) PT Lowered to $83 at CFRA

CFRA lowered its price target on Marvell (NASDAQ: MRVL) to $83.00 (from $90.00) while maintaining a Buy rating.... More

Marvell (MRVL) PT Lowered to $75 at Deutsche Bank

Deutsche Bank analyst Ross Seymore lowered the price target on Marvell (NASDAQ: MRVL) to $75.00 (from $80.00) while maintaining a Buy rating.... More

Marvell (MRVL) Shares Soar on Earnings Beat but Analyst Warns Durability Concerns Seem Unlikely to Fade

Shares of Marvell Technology (NASDAQ: MRVL) are up more than 5% in premarket trading Friday after it reported Q1 adjusted EPS and revenue that were above analyst estimates.

MRVL posted adjusted EPS of 52c in the first quarter, compared to 29c in the year-ago period, topping the estimates of 51c per share. Net revenue came in at $1.45 billion, up 74% YoY and above the analyst consensus of $1.43... More

Marvell (MRVL) PT Lowered to $82 at BMO Capital

BMO Capital analyst Ambrish Srivastava lowered the price target on Marvell (NASDAQ: MRVL) to $82.00 (from $98.00) while maintaining a Outperform rating.... More

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

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 Lowered to $68 at Morgan Stanley

Morgan Stanley analyst Joseph Moore lowered the price target on Marvell (NASDAQ: MRVL) to $68.00 (from $80.00) while maintaining a Equalweight rating.... More

Marvell (MRVL) PT Lowered to $90 at KeyBanc

KeyBanc analyst John Vinh lowered the price target on Marvell (NASDAQ: MRVL) to $90.00 (from $95.00) while maintaining a Overweight rating.... More

After-Hours Stock Movers 05/26: Ulta, Dell Jump on Earnings; Gap, American Eagle Sink (more...)

After-Hours Stock Movers:

Iovance Biotherapeutics, Inc. (NASDAQ: IOVA) 54% LOWER; reported clinical results from its C-144-01 clinical study in patients with advanced (unresectable or metastatic) melanoma who progressed on prior anti-PD-1/L1 therapy, and if BRAF mutation positive, also on prior BRAF or BRAF/MEK inhibitor therapy.

Red Robin Gourmet Burgers (NASDAQ: RRGB) 16% HIGHER; reported Q1 EPS of ($0.12), $0.61 better than the analyst estimate of ($0.73). Revenue for the quarter came in at $380.6 million versus the consensus estimate of $381.18... More

Marvell Technology (MRVL) Tops Q1 EPS by 1c

Marvell Technology (NASDAQ: MRVL) reported Q1 EPS of $0.52, $0.01 better than the analyst estimate of $0.51. Revenue for the quarter came in at $1.45 billion versus the consensus estimate of $1.43 billion.

GUIDANCE:

Marvell Technology sees Q2 2023 EPS of $0.53-$0.59, versus the consensus of... More