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Fly News Breaks for May 21, 2019
MRVL
May 21, 2019 | 07:28 EDT
Deutsche Bank analyst Ross Seymore views favorably Marvell Technology's acquisition of Avera Semiconductor. While the deal is slightly dilutive to gross margin in the near term, it should add $300M-$340M of revenue and be 2%-4% accretive to pro forma earnings in fiscal 2021, Seymore tells investors in a research note. He keeps a Buy rating on Marvell shares.
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