Goldman Sachs Neutral On Marvell Technology

Goldman Sachs is out with a research report on Marvell Technology Group Ltd. MRVL and it has a Neutral rating and a $14 price target on shares. In a note to clients, Goldman Sachs writes, "We believe Marvell is executing well and will likely continue to see a benefit from HDD share gains, growth in SSDs, and the ramp of TD handsets in China. For the stock to move sustainably higher, we believe investors will need greater confidence in the sustainability of wireless revenues, and share gains in HDDS post pending industry consolidation." Shares of MRVL lost 12 cents yesterday to close at $12.56.