Marvell price target lowered to $60 from $75 at UBS

UBS lowered the firm’s price target on Marvell to $60 from $75 and keeps a Buy rating on the shares. Marvell’s margin guidance and cloud optimized silicon pushout are negative surprises, but UBS still skews positive as this new content is a matter of "when, not if," the analyst tells investors in a research note.