Rosenblatt lowered the firm’s price target on Marvell (MRVL) to $95 from $124 and keeps a Buy rating on the shares. The company’s fiscal Q2 report was mixed as data center ASIC shipment adjustments from October to January led to a slight sales miss and earnings beat, the analyst tells investors in a research note. The firm reduced fiscal 2027 revenue estimates based on the automotive business divestiture and lower data center shipments.
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Read More on MRVL:
- Marvell price target lowered to $120 from $130 at JPMorgan
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