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MRVL

Marvell

$25.14

0.75 (3.08%)

06:36
11/04/19
11/04
06:36
11/04/19
06:36

Wells Fargo upgrades Marvell to Outperform, boosts price target to $32

Wells Fargo analyst Gary Mobley upgraded Marvell Technology Group to Outperform from Market Perform with a price target of $32, up from $25. We are at a "tipping point" in adoption of Marvell's 5G system on chip and related Ethernet integrated circuits relative to "expensive" field programmable gate arrays, Mobley tells investors in a research note. As such, he believes Marvell should continue to experience "robust" 5G-basestation-related sales to Nokia and Samsung for the balance of 2019 and into 2020. Further, recent reacceleration in data center capex should bode well for the company's OCTEON/NITROX and Fibre Channel sales, which represents a more near-term catalyst, adds the analyst.

MRVL Marvell
$25.14

0.75 (3.08%)

10/03/19
STFL
10/03/19
INITIATION
Target $29
STFL
Buy
Marvell resumed with a Buy rating at Stifel
Stifel analyst Tore Svanberg resumed coverage of Marvell Technology with a Buy rating and $29 price target. The analyst views the company as a turnaround story, coupled with increasing leverage to "key" secular growth opportunities, especially in 5G.
10/04/19
10/04/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Nike (NKE) initiated with an Underperform rating at Exane BNP Paribas. 2. Etsy (ETSY) initiated with a Buy at Nomura Instinet. 3. Domino's Pizza (DPZ) initiated with an Outperform at Wedbush. 4. Marvell (MRVL) resumed with a Buy rating at Stifel. 5. Five Below (FIVE) initiated with an Outperform at William Blair. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/24/19
NEED
10/24/19
NO CHANGE
Target $28
NEED
Buy
Xilinx ASIC displacement, Nokia cost pressures to benefit Marvell, says Needham
Needham analyst N. Quinn Bolton says that comments made by Xilinx (XLNX) and Nokia (NOK) on their respective earnings calls appear to have "strong positive read-throughs" for Marvell's (MRVL) 5G business. Xilinx warned investors that baseband ASIC displacement would result in materially weaker wireless revenue in Q4 of 2019 and Q1 of 2020, while Nokia lowered its profit margin targets for the next couple of years citing the high cost of its first generation 5G products and the need to invest in SoC solutions in order to reduce its semiconductor costs, he notes. As the analyst believes Marvell's processors are displacing Xilinx's FPGAs for baseband applications in Samsung's (SSNLF) 5G base stations, he thinks Marvell is poised to pick up a meaningful portion of the business Xilinx is losing over the next two quarters. Similarly, he sees the company working with Nokia to deliver a custom ASIC over the next 12 months to help the latter reduce the cost of its 5G solutions. Bolton has a Buy rating and $28 price target on Marvell's shares.
11/04/19
WELS
11/04/19
UPGRADE
Target $32
WELS
Outperform
Marvell upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo analyst Gary Mobley upgraded Marvell Technology Group to Outperform from Market Perform with a $32 price target.

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FMCC

Freddie Mac

$0.00

(0.00%)

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GDS

GDS Holdings

$47.16

1.88 (4.15%)

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BIG

Big Lots

$19.17

-0.75 (-3.77%)

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Genesco

$36.94

0.38 (1.04%)

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UNVR

Univar

$23.15

0.22 (0.96%)

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PLUG

Plug Power

$3.10

-0.195 (-5.93%)

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RGLD

Royal Gold

$117.91

0.64 (0.55%)

, TECK

Teck Resources

$15.71

-0.11 (-0.70%)

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Royal Gold

$117.91

0.64 (0.55%)

TECK

Teck Resources

$15.71

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IR

Ingersoll-Rand

$128.95

1.405 (1.10%)

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ICPT

Intercept

$119.86

2.42 (2.06%)

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  • 26

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HUN

Huntsman

$22.34

0.37 (1.68%)

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UBER

Uber

$28.65

-0.405 (-1.39%)

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UBER

Uber

$28.65

-0.405 (-1.39%)

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DOMO

Domo

$19.47

-0.19 (-0.97%)

, EZPW

Ezcorp

$5.21

-0.01 (-0.19%)

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Domo

$19.47

-0.19 (-0.97%)

EZPW

Ezcorp

$5.21

-0.01 (-0.19%)

DOCU

DocuSign

$69.51

-0.465 (-0.66%)

ULTA

Ulta Beauty

$236.09

-3.27 (-1.37%)

ZUMZ

Zumiez

$30.63

0.67 (2.24%)

CLDR

Cloudera

$10.02

0.16 (1.62%)

MDLA

Medallia

$29.79

0.55 (1.88%)

CRWD

Crowdstrike

$53.00

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AOBC

American Outdoor Brands

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YEXT

Yext

$16.62

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PD

PagerDuty

$24.99

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SAIC

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ZM

Zoom Video

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KFY

Korn/Ferry

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COO

Cooper Companies

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1 (0.32%)

GWRE

Guidewire

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OKTA

Okta

$119.18

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UBER

Uber

$28.65

-0.405 (-1.39%)

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UBER

Uber

$28.65

-0.405 (-1.39%)

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UBER

Uber

$28.65

-0.405 (-1.39%)

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CMG

Chipotle

$819.61

10.12 (1.25%)

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RCII

Rent-A-Center

$26.02

0.36 (1.40%)

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BKH

Black Hills

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PRIM

Primoris

$21.92

0.3 (1.39%)

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LMAT

LeMaitre

$35.94

-0.09 (-0.25%)

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CLBK

Columbia Financial

$16.33

-0.24 (-1.45%)

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AXS

Axis Capital

$58.42

0.31 (0.53%)

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  • 26

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