Marvell Technology's business appears to be bottoming and is well poised for growth as we head into the October quarter and into next year, Piper Jaffray analyst Harsh Kumar tells investors in a post-earnings research note. The company is finally seeing a recovery in its storage business after three quarters of a dramatic inventory correction, says the analyst. However, Kumar believes Marvell's networking segment appears to be hindered in the near term from constraints in China and the Huawei ban. He calls its 5G opportunity the "bright spot" despite last night's guidance "miss" and keeps an Overweight rating on Marvell shares with a $30 price target.