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UPDATE: FBR Capital Markets Downgrades Marvell Technology Group to Market Perform on Risks

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Stifel Downgrades Marvell Technology, 'Suggest Investors Move To The Sidelines'

FBR Capital Markets reduced its rating on Marvell Technology Group (NASDAQ: MRVL) from Outperform to Market Perform.

FBR Capital Markets commented, "We are throwing in the towel on MRVL and downgrade shares to Market Perform following another guidance cut, with more downbeat commentary about 4Q12, and with the firm's upper management team unwilling to change the firm's failing cellular strategy. … Additionally for MRVL shares, while we do not like "downgrading at the bottom," we are further concerned by CFO Hosein's just-announced departure. We think CFO Hosein was a good operational executive brought on to make fundamental strategic and business reformations at Marvell."

Marvell Technology Group closed at $8.83 on Thursday.

Latest Ratings for MRVL

DateFirmActionFromTo
Feb 2015Stifel NicolausDowngradesBuyHold
Feb 2015FBR CapitalUpgradesMarket PerformOutperform
Feb 2015Deutsche BankMaintainsHold

View More Analyst Ratings for MRVL
View the Latest Analyst Ratings

Posted-In: FBR Capital MarketsAnalyst Color Downgrades Intraday Update Analyst Ratings

 

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