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MRVL

Marvell Technology Group, Ltd.

5/18/2013, 4:49 PM ET

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Thursday, May 16, 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) Comment! [Tech, On the Move]
Wednesday, May 15, 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. 8 Comments [Energy, Tech]
Monday, April 22, 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) 1 Comment [Tech]
Monday, April 8, 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. 3 Comments [Tech]
Tuesday, March 26, 12:56 PM An upbeat note from Brean Capital's Ananda Baruah is leading Seagate (STX +3%) and Western Digital (WDC +2.9%) to rally. In spite of weak PC sales, Baruah expects industry hard drive shipments to total 130M-135M in calendar Q1, down just slightly from Q4's 136M and in-line with guidance. Moreover, he sees the potential for 5%-10% 2H shipment growth, and ASPs and margins are seen benefiting from a mixture of better capacity utilization, stronger retail revenue, rising hybrid drive shipments, and a mix shift to enterprise and 500GB single-platter notebook drives. LSI +1.4%. MRVL +0.8%. 4 Comments [Tech, On the Move, Quick Ideas]
Friday, March 22, 12:12 PM MediaTek is reportedly getting more aggressive about competing against Qualcomm (QCOM), Spreadtrum (SPRD), and Marvell (MRVL) on price: a Taiwanese paper reports MediaTek will cut prices for its mobile processors on April. The price of MediaTek's MT6589 quad-core 3G baseband/app processor, set to be used by 20 OEMs, will fall by $2 to $18. That arguably makes it competitive with Qualcomm's Snapdragon line in the battle for mid-range smartphone designs aimed at markets (such as China) where 4G support isn't needed. (previous) 1 Comment [Tech]
Wednesday, March 20, 10:00 AM Another day, another upgrade for Spreadtrum (SPRD +4.5%). Jefferies' Ken Hui, who is lifting shares to Buy, observes China Mobile's (CHL) strong TD-SCDMA 3G sub growth is increasing the market for Spreadtrum's baseband chips, and that prices have stabilized thanks to supply constraints. The firm now sees China Mobile posting 2013 TD-SCDMA net adds of 74.4M and phone shipments of 139M (+88%). Such growth is also a positive for Marvell (MRVL) and Qualcomm (QCOM). (Chardan Capital upgrade) 1 Comment [Tech, On the Move, Quick Ideas]
Monday, March 11, 4:19 PM EZchip (EZCH +2.6%) had a roller-coaster ride after Kerrisdale Capital issued a report voicing concerns about Broadcom's (BRCM) entry into the carrier network processor market, arguing the company's ability to offer an end-to-end solution for line cards gives it an edge. Kerrisdale also warns of competition from Marvell's (MRVL) Xelerated unit, and argues EZchip's NPS processor will be at a manufacturing disadvantage relative to private Netronome. Shares rebounded after Feltl defended EZchip, asserting Broadcom's chips are handicapped by a lack of an integrated traffic manager, and noting Cisco and ZTE will use EZchip's NP-5 processor. 1 Comment [Tech, Quick Ideas]
Thursday, March 7, 2:39 PM Hard drive kingpins Seagate (STX -2.8%) and Western Digital (WDC -3.9%) are having a rough day. Pac Crest reportedly cut estimates on the companies, along with Intel and AMD, citing weak notebook sales. Hard drive controller supplier Marvell (MRVL -1.2%) is also off. Comment! [Tech, On the Move]
Wednesday, March 6, 7:07 PM ARM's (ARMH) CPU cores are going into Baidu's data centers ... and they might also wind up in human stomachs. Marvell (MRVL) says Baidu will use its ARM-based Armada XP server CPUs in systems handling cloud storage services. Meanwhile, Freescale (FSL) has developed an ARM-based microcontroller that measures just 1.9 x 2 mm, and says it's working with customers/partners on "products that can be swallowed." Though ARM mobile and server chips get more press, the company's growing microcontroller share is driving much of its unit growth. (previous) 2 Comments [Tech]
Friday, February 22, 9:10 AM Premarket gainers: WBMD +19%. ARUN +14%. FIRE +13%. JOEZ +11%. CYBX +8%. MRVL +5%. GLUU +5%. HPQ +5%.
Losers: ETRM -17%. RAX -6%. FRO -6%. Comment! [On the Move]
Thursday, February 21, 4:37 PM More on Marvell: FQ1 guidance is for revenue of $700M-$740M and EPS of $0.12-$0.16, somewhat favorable to a consensus of $707.8M and $0.13. FQ4 EPS beat assisted by $283M in buybacks. Company says it gained hard drive controller share (at LSI's expense?). Gross margin was 53.2%, +90 bps Q/Q and -130 bps Y/Y. Opex +9% Y/Y, above rev. growth of 4%. MRVL +4.5% AH, shares have been depressed for a while. CC at 4:45PM ET (webcast). (PR) Comment! [Tech, Earnings]
Thursday, February 21, 4:04 PM Marvell (MRVL): Q4 EPS of $0.19 beats by $0.06. Revenue of $775M beats by $54.11M. Shares +5.7% AH. (PR) 1 Comment [Earnings, Breaking News, U.S. Economy, Tech, On the Move]
Thursday, February 21, 12:10 AM Notable earnings after Thursday’s close: ACTG, AIG, ARUN, ATLS, BMRN, BV, CENX, CLGX, COG, CUBE, CYH, DRYS, EXEL, EXR, FIRE, FLS, FTR, GDI, HPQ, INT, INTU, ITMN, JWN, MRVL, NEM, NPSP, ONXX, PSA, SBAC, SWN, TS, WBMD Comment! [Earnings]
Wednesday, February 20, 5:35 PM Notable earnings after Thursday’s close: ACTG, AIG, ARUN, ATLS, BMRN, BV, CENX, CLGX, COG, CUBE, CYH, DRYS, EXEL, EXR, FIRE, FLS, FTR, GDI, HPQ, INT, INTU, ITMN, JWN, MRVL, NEM, NPSP, ONXX, PSA, SBAC, SWN, TS, WBMD 2 Comments [Earnings]
Thursday, February 14, 11:14 PM Marvell (MRVL) finished AH trading up 1.3% after David Einhorn's Greenlight Capital disclosed it raised its stake in the chipmaker to 51.8M shares in Q4 from 32.7M at the end of Q3. This means Greenlight owned 9.2% of Marvell at year's end. At the same time, the firm slashed its stake in one of Marvell's top customers, Seagate (STX), by nearly half to 8.4M shares. That left Greenlight owning 2.2% of the hard drive giant. Marvell's FQ4 report arrives on Feb. 21. (13F) Comment! [Tech]

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