Oppenheimer analyst Rick Schafer reiterated an Outperform rating and $30 price target on Marvell (MRVL) following the company's quarterly results, which topped estimates, though its Q3 outlook was "mixed" compared with the Street. In a research note to investors, Schafer says he likes the strategic accretive Cavium (CAVM) deal, as it strengthens Marvell's exposure to high-end datacenter and networking and doubles its total available market. Schafer also says he believes that adding Cavium improves Marvell's growth and margin profile, warranting a multiple at least in line with peers.