KeyBanc lowered the firm’s price target on Marvell to $70 from $80 and keeps an Overweight rating on the shares. Marvell’s Q3 results were in-line with expectations, though Q4 was guided lower as stronger than expected demand from AI optical DSPs is being offset by weaker trends across other segments including Carrier Infrastructure, Enterprise Networking, and Consumer, the analyst tells investors in a research note.
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