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MRVL

Marvell

$24.37

0.03 (0.12%)

, CAVM

Cavium

$90.95

-0.04 (-0.04%)

08:43
03/13/18
03/13
08:43
03/13/18
08:43

Marvell-Cavium deal in focus after denial of Broadcom-Qualcomm, says Benchmark

After President Trump signed an order prohibiting Broadcom's (AVGO) attempt to take over Qualcomm (QCOM), Benchmark analyst Gary Mobley said the news may cause investors to question CFIUS approval for the planned tie-up of Marvell (MRVL) with Cavium (CAVM). It is possible Marvell may have to re-domicile in the U.S. from Bermuda, which may delay the merger by a few months and would increase Marvell's tax rate unfavorably, he said. Mobley, who think it is hard to say whether the President will shoot down the deal, noted that CFIUS and China's MOFCOM are the last two regulatory hurdles for Marvell and Cavium's deal. He has a Buy rating on Marvell shares.

MRVL

Marvell

$24.37

0.03 (0.12%)

CAVM

Cavium

$90.95

-0.04 (-0.04%)

QCOM

Qualcomm

$62.81

-0.22 (-0.35%)

AVGO

Broadcom

$262.84

9.06 (3.57%)

  • 15

    Mar

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    Mar

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    Mar

  • 29

    Mar

MRVL Marvell
$24.37

0.03 (0.12%)

03/12/18
ARGS
03/12/18
NO CHANGE
Target $28
ARGS
Buy
Marvell remains undervalued on cash flow growth prospects, says Argus
Argus analyst Jim Kelleher keeps his Buy rating and a $28 price target on Marvell, writing the company has improved its execution through focus on value-added opportunities. The analyst also believes that while the stock price has moved higher, Marvell's valuation remains attractive relative to that of peers and considering the company's cash flow growth potential.
03/12/18
NEED
03/12/18
NO CHANGE
Target $27
NEED
Buy
Marvell growth across core businesses is encouraging, says Needham
Needham analyst N. Quinn Bolton keeps his Buy rating and $27 price target on Marvell (MRVL) after the company's "slightly above expectations" Q4 results and above-consensus Q1 outlook. Bolton says the Q4 report suggests "traction in new enterprise and data center products and strength in the SSD controller family", while modest sequential revenue growth in Networking and the progressing accretive Cavium (CAVM) acquisition with cost synergies of up to $175M add to his bullish view.
03/09/18
COWN
03/09/18
NO CHANGE
Target $29
COWN
Outperform
Marvell price target raised to $29 from $21 at Cowen
Cowen analyst Karl Ackerman raised his price target on Marvell (MRVL) to $29 from $21 citing its acquisition of Cavium (CAVM). He also contends its organic growth rate is misleading, as it includes several businesses that have been sold and sees storage headwind concerns as overblown. Ackerman reiterated his Outperform rating on Marvell shares.
03/09/18
OPCO
03/09/18
NO CHANGE
Target $30
OPCO
Outperform
Oppenheimer a buyer of Marvell shares after latest beat/raise results
Oppenheimer analyst Rick Schafer reiterated his Outperform rating on Marvell Technology following the company's beat and raise quarter. In a research note to investors, Schafer said Marvell's core business growth of about 8% year over year and gross margin expansion shows the structural improvements the company's new management has brought in just 18 months, adding that the planned growth and margin accretive Cavium acquisition "only serves to amplify these trends." "We are buyers here," Schafer added, noting that he has a $30 price target on shares.
CAVM Cavium
$90.95

-0.04 (-0.04%)

03/07/18
KEYB
03/07/18
NO CHANGE
KEYB
KeyBanc remains a buyer of Intel, Marvell
In a research note titled "Notebook ODM tracker," KeyBanc analyst Michael McConnell says February unit shipments are likely to be modestly below his estimates, but is maintaining his Q1 unit shipment estimate of -18% quarter over quarter. McConnell remains a buyer of Intel (INTC) due to its processor sell-in, and signs of improving commercial demand. The analyst also remains constructive on Marvell (MRVL) due to higher confidence on revenue growth, driven by the networking and SSD controller segments, design-win traction and sales momentum into data centers, and higher networking and data center sales mix, gross margin accretion, and multiple expansion from the pending Cavium (CAVM) acquisition.
03/07/18
ARGS
03/07/18
INITIATION
Target $28
ARGS
Buy
Marvell initiated with a Buy at Argus
Argus analyst Jim Kelleher initiated Marvell (MRVL) with a Buy rating and a price target of $28. Kelleher expects the company's total addressable market to double after its acquisition of Cavium (CAVM), as the deal will provide marvell with an entry into "complementary product markets". The analyst also foresees stabilizing margins and revenues after several years of decline for Marvell thanks to its asset portfolio reorganization and dispositions. Kelleher believes that the valuation on Marvell is attractive at current levels, with the stock trading at 19.4-times his FY18 EPS target.
QCOM Qualcomm
$62.81

-0.22 (-0.35%)

03/12/18
KEYB
03/12/18
NO CHANGE
Target $320
KEYB
Overweight
Broadcom risk/reward positive with limited downside, says KeyBanc
KeyBanc analyst John Vinh sees a positive risk/reward on shares of Broadcom (AVGO) with limited downside ahead of the company's Q1 results. At current levels, the stock has effectively priced in a very low probability of a successful acquisition of Qualcomm (QCOM), Vinh tells investors in a research note. The analyst would be opportunistic buyers of the stock. He keeps a Overweight rating on Broadcom with a $320 price target.
03/12/18
BMOC
03/12/18
NO CHANGE
Target $345
BMOC
Outperform
Broadcom price target raised to $345 from $330 at BMO Capital
BMO Capital analyst Ambrish Srivastava raised his price target on Broadcom (AVGO) to $345 citing his new FY18 EPS target of $5.10 based on the company's revised guidance in January. Srivastava keeps his Outperform rating going into the next earnings update, noting that fundamentals for Broadcom remain "strong" even as much of the investor focus is around its bid for Qualcomm (QCOM). The analyst forecasts Broadcom Wireless Communications segment to grow 10% on the quarter and Enterprise Storage segment to grow 40% on the quarter.
03/13/18
RHCO
03/13/18
NO CHANGE
Target $335
RHCO
Broadcom price target lowered to $335 from $344 at SunTrust
SunTrust analyst William Stein lowered his price target on Broadcom (AVGO) to $335 after the company's bid for Qualcomm (QCOM) came undone. Stein says the new price target is based on Broadcom's stand-alone valuation and potential accretion from another medium-sized deal, forecasting the company to pursue another target "in due time". The analyst keeps his Buy rating on Broadcom, adding that M&A has been a "massive driver" of its earnings growth.
03/13/18
ADAM
03/13/18
NO CHANGE
Target $86
ADAM
Buy
Qualcomm weakness a buying opportunity, says Canaccord
Canaccord analyst T. Michael Walkley noted the White House blocked the takeover of Qualcomm (QCOM) by Broadcom (AVGO) in the interest of national security. He expects the shares of Qualcomm to be weak as a result and recommends investors buy the shares on the pullback. He left his estimates and price target the same and believes its valuation will be compelling, especially if it closes the NXP Semiconductor (NXPI) deal. Walkley reiterated his Buy rating and $86 price target on Qualcomm shares.
AVGO Broadcom
$262.84

9.06 (3.57%)

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ADI

Analog Devices

$88.07

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AOBC

American Outdoor Brands

$12.69

0.02 (0.16%)

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CBS

CBS

$46.21

-0.6 (-1.28%)

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Disney

$109.43

-1.2 (-1.08%)

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$46.21

-0.6 (-1.28%)

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$109.43

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FGEN

FibroGen

$39.51

0.54 (1.39%)

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CVS

CVS Health

$69.55

-1.12 (-1.58%)

, AET

Aetna

$0.00

(0.00%)

17:13
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$69.55

-1.12 (-1.58%)

AET

Aetna

$0.00

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  • 07

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QCOM

Qualcomm

$57.77

0.78 (1.37%)

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ADI

Analog Devices

$88.07

0.75 (0.86%)

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MU

Micron

$34.12

0.23 (0.68%)

17:04
12/18/18
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Earnings
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LGND

Ligand

$133.43

0.8 (0.60%)

17:04
12/18/18
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Earnings
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LGND

Ligand

$133.43

0.8 (0.60%)

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CFFI

C&F Financial

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MU

Micron

$34.12

0.23 (0.68%)

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Micron

$34.12

0.23 (0.68%)

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ANGI

Angi Homeservices

$15.64

-0.01 (-0.06%)

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MTCH

Match Group

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UNFI

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TWTR

Twitter

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