Marvell price target lowered to $50 from $55 at Deutsche Bank

Deutsche Bank analyst Ross Seymore lowered the firm’s price target on Marvell to $50 from $55 and keeps a Buy rating on the shares. For the second quarter in a row, Marvell posted an in-line report and issued soft guidance, the analyst tells investors in a research note. The firm says gross margins surprised significantly to the downside.