According to Goldman Sachs, Marvell Technology Group MRVL held its general shareholders meeting at 5:30 p.m. PT on June 28.
Goldman Sachs said that one of the items approved at the meeting authorizes a reallocation of $3.1 bn from Marvell's “share premium account” to its “contributed surplus account.” “Our 12-month price target is $18, based on 14X normalized EPS of $1.25.”
Marvell Technology Group closed yesterday at $14.15.
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Posted In: Analyst ColorAnalyst RatingsGoldman SachsInformation TechnologyMarvell Technology Group Ltd.Semiconductors
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