Marvell Technology Gets Price Targets Cuts

ข้อมูลเบื้องต้น

Marvell Technology reported earnings per share of 46 cents, missing the consensus estimate of 47 cents on revenues of $1.419 billion, which beat the consensus estimate of $1.4 billion.

Marvell said it expects Q1 revenue to be roughly $1.3 billion plus or minus 5%, falling short of the $1.38 billion estimates and sees adjusted EPS at 29 cents plus or minus 0.05, missing the 41 cent consensus.

Marvell Tech shares dropped 8.2% to $42.44 in pre-market trading.

These analysts made changes to their price targets on Marvell Tech following the release of results.

Keybanc cut the price target on Marvell Tech from $65 to $60. Keybanc analyst John Vinh maintained an Overweight rating.
Raymond James lowered the price target on Marvell Tech from $54 to $50. Raymond James analyst Srini Pajjuri maintained an Outperform rating.
Needham, meanwhile, maintained the stock with a Buy and $50 price target.