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Fly News Breaks for March 12, 2018
CAVM, MRVL
Mar 12, 2018 | 08:06 EDT
Needham analyst N. Quinn Bolton keeps his Buy rating and $27 price target on Marvell (MRVL) after the company's "slightly above expectations" Q4 results and above-consensus Q1 outlook. Bolton says the Q4 report suggests "traction in new enterprise and data center products and strength in the SSD controller family", while modest sequential revenue growth in Networking and the progressing accretive Cavium (CAVM) acquisition with cost synergies of up to $175M add to his bullish view.
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