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

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On Wednesday, analysts at Stifel downgraded shares of Marvell Technology Group (NASDAQ: MRVL) from Buy to Hold.

Analyst Kevin Cassidy wrote, “We believe increasing commoditization of mobile SoCs could pressure revenue growth and gross margins, adding risk to our estimates. Also market speculation of the potential spinoff of mobile products is mostly priced into the shares, in our view. These factors along with the overhang of the CMU lawsuit have us moving to the sidelines.”

Cassidy finds that Marvell shares are currently trading within 10 percent of the firm’s 12-month price target and have gained roughly 12 percent year-to-date.

“With the shares trading at their current level, compounded by the overhanging risk of the CMU litigation, we suggest investors move to the sidelines.”

Shares of Marvell Technology traded recently at $16.10, down 0.5 percent.

Latest Ratings for MRVL

DateFirmActionFromTo
Oct 2019ReinstatesBuy
Aug 2019UpgradesHoldBuy
Aug 2019AssumesBuy

View More Analyst Ratings for MRVL
View the Latest Analyst Ratings

Posted-In: Kevin Cassidy Stifel NicolausAnalyst Color Downgrades Price Target Analyst Ratings

 

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