Here's How Analysts View Marvell Post Q4

  • Most analysts slashed their price targets on Marvell Technology Inc MRVL post Q4 results.
  • Wells Fargo analyst Gary Mobley lowered the price target to $70 from $80 (7.5% upside) and maintained an Equal-Weight following the "respectable" beat and raise quarter. 
  • Considering the upbeat results and the pullback in the equity markets & chip sector, Mobley says it is tempting to become more constructive on Marvell but is sticking with his Equal Weight rating. He believes Marvell can exit FY23 with a backlog higher than at the start of the FY, despite capacity additions.
  • Needham analyst Quinn Bolton maintained a Buy and lowered the price target from $115 to $105 (61.2% upside).
  • Rosenblatt analyst Hans Mosesmann maintained a Buy and raised the price target from $120 to $125 (91.9% upside).
  • Deutsche Bank analyst Ross Seymore maintained a Buy and lowered the price target from $100 to $90 (38.2% upside).
  • B. Riley Securities analyst Craig Ellis maintained a Buy and lowered the price target from $115 to $95 (45.9% upside).
  • Morgan Stanley analyst Joseph Moore maintained an Equal-Weight and lowered the price target from $86 to $80 (22.8% upside).
  • Summit Insights Group analyst Kinngai Chan downgraded from Buy to Hold.
  • Price Action: MRVL shares traded higher by 3.70% at $62.77 on the last check Friday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: NewsDowngradesPrice TargetReiterationAnalyst RatingsTechBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!