Marvell Technology (MRVL): Earnings Preview - Needham

Needham & Company analyst, Quinn Bolton, reiterated his Buy rating on shares of Marvell (NASDAQ: MRVL) ahead of F2Q18 results tonight after the close.

The analyst expects modestly softer than expected conditions in the HDD segment but robust enough that Marvell will report in-line F2Q18 results and F3Q18 guidance led by strength in its SSD segment, seasonality, new product ramps in the Connectivity business and continued margin expansion.

The analyst stated "with MRVL shares trading at 13.2x CY18 NG EPS (or 10.6x CY18 NG EPS ex. cash), we continue to see good value in the shares". No change to the price target of $21.

For an analyst ratings summary and ratings history on Marvell click here. For more ratings news on Marvell click here.

Shares of Marvell closed at $15.89 yesterday.

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