Citi analyst Atif Malik lowered the firm’s price target on Marvell to $65 from $71 and keeps a Buy rating on the shares. The company’s missed October and January quarter expectations on storage led data center and China enterprise networking weakness, Malik tells investors in a research note. The analyst says the magnitude of the corrections surprised him.
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Published first on TheFly
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Read More on MRVL:
- Marvell price target lowered to $55 from $80 at Piper Sandler
- Marvell (NASDAQ:MRVL) Stock Dips on Q3 Miss, Weak Outlook
- Marvell Technology, Inc. Reports Third Quarter of Fiscal Year 2023 Financial Results
- Marvell sees Q4 adjusted EPS 46c +/- 5c, consensus 62c
- Marvell reports Q3 adjusted EPS 57c, consensus 59c