SIMO - Marvell Not Getting Enough Credit For The Progress It Has Made
By Stephen D. Simpson, CFA
Marvell Technology (MRVL) isn’t quite in the clear just yet. While management has led what I believe to be an impressive turnaround since Matt Murphy became CEO in the summer of 2016, and the decision to exit mobile baseband (which occurred before the new CEO came on board) was a good one, the shares have nevertheless lagged the SOX over the past two years, with the gap having widened recently on growing concerns about the health of the recently-acquired Cavium business.
At its core, I think Marvell has