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Fly News Breaks for April 27, 2015
MRVL
Apr 27, 2015 | 07:28 EDT
Brean Capital said Marvell's quarterly miss was inevitable, but the depth of the miss was more severe than expected. The firm believes the miss is related to China's handset market and believes there is a greater than 50% chance the company will exit the mobile business. Brean Capital reiterated its Buy rating but lowered its price target to $16 from $17 on Marvell shares.
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