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Marvell (MRVL -1.9%) slides after receiving downgrades from Canaccord and Caris. A declining...

Marvell (MRVL -1.9%) slides after receiving downgrades from Canaccord and Caris. A declining hard drive market and share losses in the 3G TD-SCDMA baseband chip market will lead to falling estimates, says Canaccord's Bobby Burleson, who now rates Marvell a Neutral. He holds off on rating the company a Sell due to its new dividend.
Comments (2)
  • Hannox
    , contributor
    Comments (47) | Send Message
     
    This guy is an absolute chump. This company now has an EV of $3bn and is generating FCF of $600m+. Last year they generated FCF of $900m. So based on trough earnings you have a 5 year payback and on peak earnings closer to 2.5x. He clearly has no idea of the concept of value and is another Wall Street clown reducing his PT because the stock is down. PE will be running the rule over this as we speak and with mgt on board it would be a seamless transaction even at $15+. I suspect at that point Bobby would increase his PT to overwright. My 2 year old would write a more insightful piece.
    26 Sep 2012, 03:01 PM Reply Like
  • Hannox
    , contributor
    Comments (47) | Send Message
     
    I am a Hedge Fund Manager who focuses primarily on fundamentals and despises HFT for destroying the fabric of the market
    26 Sep 2012, 03:04 PM Reply Like
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