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Marvell Technology Group, Ltd. (MRVL)

  • Jul. 8, 2013, 1:24 PM
    Chip stocks underperform (SOXX -1.8%) thanks to an Intel downgrade, negative PC commentary, and worries about Samsung's light profit forecast. Citi's Glen Yeung, who just cut his Intel estimates and pulled Qualcomm (QCOM -1.7%) from his firm's Top Picks Live list, notes smartphone penetration in developed markets (where high-end sales are concentrated) has hit 75%, and frets about a "lack of new, innovative features" in high-end phones. SWKS -3.4%. MRVL -2.9%. SMTC -3%. AVGO -3.1%. ADNC -4.3%. SNDK -2.4%. TQNT -2.4%. ATML -2.5%. TSM -3.2%. Chip ETFs: SMH, XSD, PSI, SOXL, USD, SOXS, SSG. (SIA sales data)
  • Jul. 1, 2013, 5:17 PM
    More on Lazard's downgrade of Broadcom (BRCM -1.8%) and upgrade of Marvell (MRVL +0.4%): analyst Daniel Amir argues Broadcom's (dominant) combo chip share has nowhere to go but down, that 4G LTE baseband chip sales will take time, and that heavy investments/opex spell a lack of operating leverage. Meanwhile, he thinks rival Marvell's 3G baseband business could be a positive catalyst: the company has launched quad-core chips, is expanding beyond China, and has scored design wins with Samsung, Huawei, ZTE, and HTC.  Moreover, the baseband wins could lead to combo chip wins. Brean upgraded Marvell last week. (Broadcom 3G basebands)
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  • Jul. 1, 2013, 9:22 AM
    A roundup of tech analyst ratings changes: 1) BlackBerry (BBRY) has been downgraded to Equalweight by Morgan Stanley. 2) Broadcom (BRCM) has been downgraded to Neutral by Lazard. 3) Marvell (MRVL) has been upgraded to Buy by Lazard. 4) F5 (FFIV) has been upgraded to Buy by Needham. 5) Avid (AVID) has been downgraded to Neutral by JPMorgan. 6) Solera (SLH) has been upgraded to Outperform by William Blair. BBRY -4.1%, adding to Friday's 27% drop. BRCM -0.6%. MRVL +1.4%. FFIV +2%.
  • Jun. 25, 2013, 12:52 PM
    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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  • Jun. 18, 2013, 11:35 AM
    AMD's first ARM-based server CPU, codenamed Seattle, will enter production in 2H14, the chipmaker announces. Seattle CPUs will feature 8 or 16 of ARM's (ARMH) high-end Cortex-A57 cores, with each running at 2GHz. or more. AMD claims the chips will "offer 3-4x the performance" of its new Opteron X-Series parts, and will integrate 10G Ethernet links and SeaMicro's Freedom Fabric tech. Seattle, aimed at the budding microserver market, will face competition from fellow ARM licensees AppliedMicro (AMCC +6.5% - appears to be rallying on the news), Marvell (MRVL), and startup Calxeda, and also Intel's Atom CPUs. Look for H-P to consider Seattle for its Moonshot server line.
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  • Jun. 17, 2013, 9:57 AM
    Susquehanna upgrades Marvell (MRVL +2.3%) to Positive, sending shares above $11. The chipmaker/David Einhorn holding is now up 57% YTD, aided by an FQ1 beat, low expectations, and strong buyback activity.
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  • Jun. 12, 2013, 4:32 PM
    Spreadtrum (SPRD) raises its Q2 revenue guidance range to $270M-$278M, well above a prior range of $220M-$228M and a $224.1M consensus. The Chinese baseband chipmaker cites "continuing strong demand throughout the quarter for low-cost smartphones" in China and other emerging markets, and says it's "also benefiting from the continuing expansion of our smartphone portfolio." Those were a couple of the positive catalysts SA Pro contributor Ashraf Eassa recently mentioned in a bullish write-up. Shares are halted. Marvell (MRVL), which competes with Spreadtrum in the TD-SCDMA 3G baseband space, is up 1.8% AH.
  • Jun. 11, 2013, 2:39 PM
    A Marvell (MRVL -1.9%) SSD controller is designed into Apple's new MacBook Airs, says JPMorgan. Marvell is counting on rising SSD controller sales to compensate for soft hard drive controller demand (largely the result of weak PC sales). RBC's Doug Freedman recently argued Marvell will benefit from rising SSD adoption, since the dollar value of its chip content is higher for SSDs than hard drives. However, Marvell faces competition here not only from hard drive controller rival LSI's SandForce unit, but also from startups such as DensBits and the in-house efforts of SSD vendors such as OCZ and SanDisk.
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  • May. 24, 2013, 10:47 AM
    Marvell's (MRVL +0.3%) price target is lifted $2 to $15 by RBC's Doug Freedman post-earnings, noting the low-end of FQ2 guidance is above both his and Street estimates. Needham ups its PT $3 to $15. Both maintain Buy ratings. Something didn't sit well with JMP Securities which cuts to Sell with $8 PT. Perhaps the stock's 57% YTD run has priced the good news in. Shares have given up big premarket gains.
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  • May. 24, 2013, 9:10 AM
    Premarket gainers: BLOX +17%. IOC +15%. YGE +13%. P +11%. MRVL +5%.
    Losers: DF -52%. SHLD -16%. AVEO -15%. RSOL -13%. TITN -11%. APPY -7%. ANF -7%. CRM -5%.
  • May. 23, 2013, 5:33 PM
    After-hours top gainers, as of 5:15 p.m.: BLOX +18.2%. P +8.7%. MRVL +7.7%. NSPR +2.7%. OHI +2.4%.
    After-hours top losers: AVEO -13.3%. WETF -11.9%. SHLD -11.5%. TITN -11.1%. I -8.1%.
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  • May. 23, 2013, 4:48 PM
    More on Marvell (MRVL) 2014 FQ1 earnings: FQ2 revenue guidance of $770M-$810M, non-GAAP gross margin of 51.5%-53.5%, non-GAAP operating expenses of $305M-$325M, non-GAAP EPS of $0.17-$0.21. Consensus revenue is $763M, EPS is $0.18. Company puts earnings beat on better than normal seasonal demand and share gains in storage and networking end markets. "We expect growth to be driven by increased traction in areas such as mobile handsets, tablets, connectivity, and SSDs." CC at 4:45 ET. Shares +7.2% AH. (PR)
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  • May. 23, 2013, 4:07 PM
    Marvell (MRVL): Q1 EPS of $0.19 beats by $0.05. Revenue of $734M beats by $12.45M. Shares +6.9% AH. (PR)
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  • May. 23, 2013, 12:10 AM
    Notable earnings after Thursday ’s close: ARO, BLOX, CRM, GPS, MENT, MRVL, P, ROST, SHLD, SVM, WSM, ZUMZ
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  • May. 22, 2013, 5:35 PM
    Notable earnings after Thursday ’s close: ARO, BLOX, CRM, GPS, MENT, MRVL, P, ROST, SHLD, SVM, WSM, ZUMZ
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  • May. 16, 2013, 10:49 AM
    Plenty of Cisco rivals and suppliers are now rallying in response to the company's FQ3 beat, guidance, and order activity: JDSU +5.2%. RKUS +5.8%. CAVM +4.8%. PKT +2.9%. ADTN +2.6%. ALLT +1.9%. FN +2%. FNSR +2.4%. BRCM +1.3%. MRVL +1.6%. (previous)
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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.