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Fly News Breaks for January 13, 2020
Jan 13, 2020 | 08:19 EDT
Jefferies analyst Mark Lipacis raised his price target on Microchip (MCHP) shares to $127 from $119 after the company increased its Q4 outlook for the second time in a month, noting that its CEO said that channel inventories are near historical lows, setting the table for channel restocking in 2020. He also raised his price target on NXP Semiconductors (NXPI) after having met with a dozen companies at CES. NXP's booth had auto and retail demos where processing like image or facial recognition occurred at the edge while it also demonstrated UWB capability, said Lipacis, who updated his model to include Connectivity revenues from its recently closed WiFi acquisition from Marvell (MRVL). He keeps Buy ratings on both Microchip and NXP shares.
News For NXPI;MCHP;MRVL From the Last 2 Days
Nov 29, 2021 | 07:43 EST
B. Riley analyst Craig Ellis raised the firm's price target on Marvell Technology to $90 from $83 and keeps a Buy rating on the shares ahead of the company's fiscal Q3 results. The analyst believes cloud-led data center strength can benefit the company with its product cycles "having legs deep into 2022."
Nov 29, 2021 | 07:39 EST
JPMorgan analyst Harlan Sur raised the firm's price target on Marvell Technology to $85 from $74 and keeps an Overweight rating on the shares ahead of Thursday's earnings report. The analyst believes the company's October quarter revenue and earnings were better than consensus expectations. Near-term demand remains strong across all Marvell's end markets driven by multi-quarter drivers like cloud data center build-outs, auto design wins and 5G infrastructure deployments, Sur tells investors in a research note.