Information Provided By:
Fly News Breaks for May 23, 2018
MRVL
May 23, 2018 | 08:51 EDT
Piper Jaffray analyst Harsh Kumar sees $10M-$15M of upside potential to Street revenue expectations for Marvell Technology's April quarter. The company reports Q1 results on May 31. The networking and storage markets are seeing "extremely strong, industry-wide trends," and Marvell is taking share in SSD, HDD, and networking, Kumar tells investors in a pre-earnings research note. Further, given the momentum in the higher margin segments, the analyst believes there is margin and earnings upside in the April quarter. For the July quarter guidance, Kumar is "extremely comfortable" with his slightly above consensus estimates. He continues to like shares of Marvell, and believes investors are waiting for MOFCOM approval in order to become more positive. The analyst keeps an Overweight rating on the name with a $28 price target.
News For MRVL From the Last 2 Days
There are no results for your query MRVL