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Marvell Technology Group, Ltd. (MRVL)

  • 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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  • May. 15, 2013, 5:53 PM
    David Einhorn’s Greenlight Capital took a 4.9% stake in Oil States International (OIS), a company he declared a target for shareholder activism target last week; Greenlight now ranks as the no. 5 shareholder in OIS. The fund also boosted stakes in Apple (AAPL) to ~2.4M shares from 1.3M (earlier) and Marvell Technology (MRVL) to 51.8M shares, more than 10% of shares out. New stakes: HES, SPR, GMCR, IACI.
  • Apr. 22, 2013, 2:28 PM
    Marvell (MRVL +3.6%) rallies after announcing a solution for remotely controllable LED bulbs that includes a new AC/DC controller/wireless microcontroller SoC (it can work with either the ZigBee protocol,  or a combo of ZigBee and Wi-Fi). Marvell, which has been aggressively pushing into the LED controller/driver chip space, claims its solution uses half as many chips as alternatives. The announcement comes a week after Marvell announced Samsung will use one of its LED driver ICs in a new line of bulbs. Cirrus Logic (CRUS) also has lofty ambitions in this space. (Marvell/Sharp demo)
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  • Apr. 8, 2013, 5:46 PM
    Marvell (MRVL) -1.1% AH after David Einhorn's Greenlight Capital discloses it sold 1.27M shares of the wireless/storage chipmaker last week. The sale only amounts to a small fraction of the 51.8M shares Greenlight held at the end of Q4.
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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.