Market Overview

UPDATE: Williams Financial Group Reiterates Buy Rating, Lowers PT on Marvell Technology Group

Share:
Related MRVL
6 Notable Stocks Trading Ex-Dividend Monday, September 26
Marvell Is Re-Focused On Boosting Returns
The Vetr community has downgraded $MRVL to 3-Stars (Vetr)

In a report published Wednesday, Williams Financial Group reiterated its Buy rating on Marvell Technology Group (NASDAQ: MRVL), but lowered its price target from $20.00 to $15.00.

Williams Financial noted, “After hearing nothing but macro weakness from the majority of our semiconductor coverage thus far through earnings season, we are cutting our estimates for Marvell. The primary drivers are the obvious weakness being seen in computing demand, which will likely pressure MRVL's hard drive leverage, and the slowing growth of China (plus increasing competition), which we expect will delay any significant MRVL handset growth until 2013. Additionally, we expect to hear that global enterprise demand has been sluggish, therefore pressuring the company's Ethernet division.”

Marvell Technology Group closed on Tuesday at $7.56.

Latest Ratings for MRVL

DateFirmActionFromTo
Sep 2016SusquehannaInitiates Coverage onNeutral
Sep 2016Goldman SachsReinstatesNeutral
Sep 2016CitigroupMaintainsSell

View More Analyst Ratings for MRVL
View the Latest Analyst Ratings

Posted-In: Williams Financial GroupAnalyst Color Price Target Analyst Ratings

 

Related Articles (MRVL)

View Comments and Join the Discussion!