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Fly News Breaks for April 1, 2016
MRVL
Apr 1, 2016 | 09:15 EDT
Craig-Hallum believes that the delay in the filing of Marvell's 10-K for fiscal 2016 was expected. After the company stated that it expects its net revenue for fiscal 2016 to drop, the firm says that this development was also expected. Craig-Hallum continues to believe that if Marvell's management doesn't drive shareholder value ,then activist investor Starboard will force the company to take steps that will do so. The firm thinks that the stock is significantly undervalued at current levels and recommends that investors buy the shares.