Marvell price target lowered to $63 from $90 at Craig-Hallum

Craig-Hallum analyst Christian Schwab lowered the firm’s price target on Marvell to $63 from $90 and keeps a Buy rating on the shares. The company reported roughly in line results while guiding Q4 below expectations as the company is seeing material industry inventory corrections, particularly in storage, impacting its outlook, Schwab tells investors in a research note.