MRVL - Marvell Technology's Q4 Had 'More Bad Than Good': 7 Analysts Explore Earnings As Shares Slip | Benzinga
Shares of Marvell Technology Inc (NASDAQ: MRVL) declined by 9.35% to $77.13 at the time of publication on Friday, after the company reported its fourth-quarter results and issued disappointing guidance.
The results came amid an exciting earnings season. Here are some key analyst takeaways from the release.
- Stifel analyst Tore Svanberg reaffirmed a Buy rating, while raising the price target from $72 to $86.
- Cantor Fitzgerald analyst C.J. Muse reiterated an Overweight rating, while raising the price target from $80 to $85.
- KeyBanc Capital Markets analyst John Vinh reaffirmed an Overweight rating, while lifting the price target from $70 to $95.
- Goldman Sachs analyst Toshiya Hari maintained a Buy rating, while bumping the price target from $70 to $84.
- Needham analyst Quinn Bolton reaffirmed a Buy rating, while raising the price target from $65 to $95.
- JPMorgan analyst Harlan Sur maintained an Overweight rating, while lifting the price target from $70 to $90.
- Oppenheimer analyst Rick Schafer reiterated an Outperform rating and price target of $80.
Check out other analyst stock ratings.
Stifel: Marvell Technology reported in-line quarterly results, on continued data center growth, Svanberg said in a note. He added, however, that the guidance was "materially lower” on "sharply – and persistently – softer non-DC revenue.”
"Nevertheless, we believe AI-related revenue could be tracking to ~$1.4bn ...