Jefferies is cutting its FQ3 estimates for Marvell Technology (MRVL), believing the collapse in...

|About: Marvell Technology Group, Ltd. (MRVL)|By:, SA News Editor

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.