Marvell Technology (MRVL): Restructuring Taking Hold - Needham

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Go back to Marvell Technology (MRVL): Restructuring Taking Hold - Needham

Brean Capital Raises Price Target as Marvell Technology (MRVL) Announces Restructuring Actions

November 3, 2016 9:41 AM EDT

Brean Capital reiterated a Buy rating on Marvell Technology (NASDAQ: MRVL), and raised the price target to $16.00 (from $15.00), following the company's announced restructuring actions. The actions are intended to refocus its research and development efforts in order to increase operational efficiency and improve profitability.

Analyst Mike Burton commented, "Yesterday... More