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Brean's Mike Burton upgrades Marvell (MRVL +2.9%) to Buy even as he cuts his 2H estimates due to...

Brean's Mike Burton upgrades Marvell (MRVL +2.9%) to Buy even as he cuts his 2H estimates due to concerns about weak PC sales (hurts hard drive controller demand) and a 2H slowdown in Chinese phone sales. Burton sees Marvell benefiting over time from "new products and design wins" for a list of products that includes solid-state drives, 500GB/platter notebook hard drives, low-end Chinese 3G smartphones, app processors used by Samsung and BlackBerry, Wi-Fi/Bluetooth combo chips, network processors, and 10G/40G Ethernet transceivers. The David Einhorn holding is up 58% YTD. Susquehanna upgraded shares last week.
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