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Marvell Technology Group, Ltd. (MRVL)

  • Dec. 15, 2011, 1:36 PM
    Marvell Technology (MRVL -0.4%) says its board has approved a buyback of an additional $500M under its existing repurchase plan.
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  • Dec. 7, 2011, 10:04 AM
    Marvell (MRVL +1.6%) is upped to Buy from Hold with a raised $22 price target at Craig Hallum, which believes the troubles in the hard-drive industry caused by Thailand flooding will cause a smaller impact than the Street has expected. Also, MRVL “is gaining traction in WCMDA smartphones, which lessens the impact of potential continued headwinds from RIMM."
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  • Nov. 23, 2011, 11:51 AM
    While tech in general is selling off, wireless chipmakers are getting hit harder than most, after HTC's (HTCCF.PK) Q4 bombshell raises fears of a slowdown in smartphone demand. QCOM -3.8%. BRCM -3.1%. OVTI -3%. CRUS -4.2%. MRVL -3.9%. SWKS -6.7%. TQNT -3.8%. RFMD -4.1%. ANAD -5.1%.
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  • Nov. 17, 2011, 5:27 PM
    Marvell (MRVL) is now up 4.7% AH in the wake of its FQ3 report (I, II), after the company uses its earnings call to guide for FQ4 EPS of $0.21-$0.25. While below a $0.27 consensus, the guidance is better than many feared, given the chipmaker's exposure to a hard drive market decimated by Thai flooding.
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  • Nov. 17, 2011, 4:19 PM
    More on Marvell Technology (MRVL): Q3 results largely in-line with revenue, but toward the lower end of estimates. Investors will be looking for more guidance on the company's conference call to better determine how it's being impacted by hard-disk drive manufacturing issues due to the flooding in Thailand. Shares +1.7% AH.
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  • Nov. 17, 2011, 4:08 PM
    Marvell Technology (MRVL): Q3 EPS of $0.40 beats by $0.01. Revenue of $950M (-1.0% Y/Y) beats by $9M. Shares +0.4% AH. (PR)
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  • Nov. 17, 2011, 10:48 AM
    Marvell (MRVL -5.2%) suffers more analyst disrespect ahead of its FQ3 report this afternoon, as JMP reduces its rating on the stock to Underperform with a $12.50 target price, citing "elevated risks to its TD-3G and Wi-Fi initiatives in calendar 2012 that will negate the ability of this segment to generate growth going forward." At least four analysts have cut estimates in the past two days (also).
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  • Nov. 17, 2011, 12:10 AM
    Notable earnings after Thursday's close: ARUN, CRM, FL, FMCN, GPS, MRVL
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  • Nov. 15, 2011, 9:38 AM
    Jefferies is cutting its FQ3 estimates for Marvell Technology (MRVL), believing the collapse in hard drive supplies caused by Thai flooding will hurt sales of Marvell's hard drive controller chips. Nonetheless, the firm is reiterating a Buy and lifting its PT to $18, on expectations of strong sales of Marvell's TD-SCDMA phone chips and solid-state drive controller chips.
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  • Nov. 10, 2011, 9:58 AM
    Jefferies' Mark Lipacis thinks Cisco's (CSCO +5.9%) FQ1 report (I, II, III) is a positive for the networking giant's chip suppliers, arguing Cisco and others are primed to rebuild chip inventories in 1H 2012 after slashing them this fall. Names Lipacis likes: BRCM, MRVL, AVGO, ALTR, IPHI, PMCS, ONNN, TXN.
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  • Nov. 8, 2011, 11:55 AM
    Maybe investors have had their fill of David Einhorn’s worries about Green Mountain Coffee (GMCR +1.2%), as shares rise despite the hedge funder's latest bearish pronouncements of many (last month). In addition to selling out of PFE and BP during Q3, Einhorn's firm initiated new positions in CBS, GM and MRVL.
  • Oct. 20, 2011, 9:34 AM
    Hard drive chipmakers Marvell (MRVL -4%) and LSI (LSI -0.7%) trade lower after Craig-Hallum says Western Digital's (WDC -6.1%) weak shipment forecast is a negative for the companies. Seagate (STX +0.9%), Western Digital's largest competitor, is up in early trading. (transcript)
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  • Oct. 17, 2011, 2:38 PM
    A number of storage manufacturers and chipmakers are off sharply on news of Western Digital's (WDC -7.4%) Thai troubles, as investors worry the hard drive giant's manufacturing problems will have major ripple effects. NTAP -4%. OCZ -5.7%. STEC -4.1%. QTM -5.4%. MRVL -5.4%. LSI -5.4%.
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  • Oct. 14, 2011, 8:01 AM
    Roth's Arnab Chanda is reiterating a Buy on Marvell Technology (MRVL). Chanda, who upgraded Marvell in August, expects FQ3 results to be in-line; sees Marvell gaining share in the hard drive and SSD controller markets; and believes strong demand for the company's Chinese mobile baseband chips to offset weak sales to RIMM.
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  • Sep. 29, 2011, 7:59 AM
    China's Spreadtrum (SPRD) has reportedly boosted its orders of TD-SCDMA 3G chips to foundry partner TSMC (TSM), as Chinese 3G adoption gains steam. It's added Spreadtrum has a 56% share of the market for TD-SCDMA chips, which are used in phones running on China Mobile's (CHL) 3G network - MRVL likely has much of the rest. (previously)
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  • Sep. 28, 2011, 4:40 PM
    China's IT ministry estimates the country had over 940M mobile subscribers at the end of August, 14% Y/Y. China's 3G base is pegged at 94.1M, up from less than 50M in December. Carriers CHL, CHU, and CHA benefit from overall subscriber growth, while chipmakers QCOM and MRVL gain from 3G adoption in particular. (previously)
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Company Description
Marvell Technology Group Ltd is a fabless semiconductor provider of analog, mixed-signal, digital signal processing and embedded microprocessor integrated circuits.