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Fly News Breaks for October 28, 2016
TXN, SWKS, MRVL
Oct 28, 2016 | 09:26 EDT
Craig Hallum analyst Christian Schwab commented on reports that Marvell (MRVL) is close to hiring Goldman Sachs after rebuffing China bids. Excluding Qualcomm (QCOM) after its purchase of NXP Semiconductors (NXPI) and Lenovo and HiSilicon as Chinese buyers, Schwab said this leaves Skyworks (SWKS) and Texas Instruments (TXN) on his list as logical buyers of Marvell. He believes shares could fetch north of $20 in a takeout, above his $17.50 price target. The analyst has a Buy rating on Marvell shares.