Marvell outperforms following JPMorgan upgrade to Overweight

|About: Marvell Technology Group, Ltd. (MRVL)|By:, SA News Editor

Analyst Harlan Sur, who's raising his PT to $16 from $14, praises Marvell's (MRVL +1.8%) improved product/R&D execution over the last 18 months. He also expects further op. margin expansion thanks to tight cost controls.

Sur forecasts FY15 (ends Jan. '15) EPS of $1.05, above a $0.98 consensus.

Marvell sold off last month following its FQ2 report, as soft gross margin guidance overshadowed an FQ2 beat and strong revenue/EPS guidance. But shares have since recouped most of their losses, and aren't far removed from their 52-week high of $13.51.