marvell posts
FeedPosted Jun 9th 2009 11:40AM by Eric Buscemi (RSS feed)
Filed under: Analyst reports, Analyst upgrades and downgrades, U.S. Steel (X), Nucor Corp (NUE), Analyst initiations, Marvell Technology Group (MRVL)
Analyst upgrades:
- Keefe Bruyette upgraded American Capital (NASDAQ: AGNC) to Outperform from Market Perform on expectations the company's book value and earnings are trending higher. The firm raised its target price to $22.
- Jefferies upgraded Spartan Stores (NASDAQ: SPTN) to Buy from Hold as it believes the company's EPS and sales momentum will return with the Michigan economy likely bottoming out. Despite upgrading, the firm lowered its target price to $18 from $24.
- Morgan Stanley upgraded U.S. Steel (X) to Overweight from Equal Weight due to its favorable product mix and leverage to improving operating rates.
- CSX Corp. (NYSE: CSX) was upgraded to Buy from Neutral at Goldman.
- Mueller Water (NYSE: MWA) was raised to Perform from Underperform at Oppenheimer.
- Marvell Technology (NASDAQ: MRVL) was upgraded to Outperform from Underperform at JMP Securities.
Continue reading Analyst upgrades, downgrades and initiations: CSX, JBL, MRVL, NUE, STT, X ...
Posted Dec 6th 2008 11:10AM by Trey Thoelcke (RSS feed)
Filed under: Earnings reports, General Electric (GE), Johnson and Johnson (JNJ), Sears Holdings (SHLD), Research in Motion (RIMM), Goldman Sachs Group (GS), Yum Brands (YUM), Staples Inc (SPLS), Red Hat Inc (RHT), Merck and Co (MRK), Palm Inc (PALM), Marvell Technology Group (MRVL)
Here are some highlights from this past week's earnings coverage from BloggingStocks:
Continue reading Earnings highlights: Sears, GE, Goldman Sachs, Johnson & Johnson, Staples and others
Posted Dec 3rd 2008 9:43AM by Steven Mallas (RSS feed)
Filed under: Earnings reports, Apple Inc (AAPL), Marvell Technology Group (MRVL), Technology
Marvell Technology Group's (NASDAQ: MRVL) Q3 earnings report had some great numbers that made me want to consider the stock as a potential buy. However, some things about the long-term price action of the company's shares makes me want to avoid the stock altogether.
The bottom line for the storage and networking tech company increased 64% to $0.23 per diluted share; this number beat estimates by three pennies. Pretty cool, right? Here are a couple more positives: operational cash flow increased 41% on a sequential basis compared to Q2 of this year, and free cash flow increased 47% on the same basis. On a year-over-year basis, operational cash flow increased more than ten times, leading to a huge increase in free cash flow. And non-GAAP gross margin, while not seeing an increase, saw fit to at least remain flat instead of decreasing. Not bad. Marvell's shares traded 8% higher in premarket action.
Here's the deal, though. I'm not sure I'd want to buy Marvell at this point in the dreadful economic cycle. Going back to the long-term price action, there's no escaping the significant decline in the stock price as a result of potential future weakness in its business. For example, recently, Melly Alazraki wrote about Apple's (NASDAQ: AAPL) iPhone and how sales of that device might be affected by the recession. Marvell is a supplier to the iPhone.
With the stock in single-digit territory, and with the global markets acting horribly, I just can't see buying Marvell. Indeed, I enjoyed the earnings report. But one must consider the company is unsure about demand for the stuff it sells going forward. Maybe Marvell might make a trade or something, but I'm not ready to go long-term on it just yet.
Disclosure: I don't own any company mentioned; positions can change at any time.
Posted Aug 24th 2008 12:30PM by Trey Thoelcke (RSS feed)
Filed under: Earnings reports, Forecasts, Dell (DELL), Tiffany and Co (TIF), Sears Holdings (SHLD), Economic data
Results for the tech stocks in last week's preview were a mixed bag, some beats, some misses, some in line. By and large, expectations for tech companies reporting results this week remain high, though. Here's what analysts surveyed by Thomson Financial are anticipating in the way of earnings, as compared to the same period of the previous year.
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LaBarge Inc. (AMEX:
LB): $0.27 EPS (+33.3%) on sales of $71.6 million (+10.4%)
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Dell Inc. (NASDAQ:
DELL): $0.36 EPS (+11.1%) on sales of $15.9 billion (+7.8%)
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HEICO Corp. (NYSE:
HEI): $0.46 EPS (+13.0%) on sales of $147.1 million (+10.5%)
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Novell Inc. (NASDAQ:
NOVL): $0.05 EPS (flat) on sales of $241.4 million (-0.7%)
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Continue reading The week in preview: Earnings expectations for techs, Canadian banks
Posted Apr 16th 2008 2:18PM by Brent Archer (RSS feed)
Filed under: Major movement, Earnings reports, Good news, Industry, Intel (INTC), Options, Technical Analysis, Marvell Technology Group (MRVL), Technology
Marvell Technology Group Ltd. (NASDAQ:
MRVL) shares are trading higher after tech bellwether
Intel (NASDAQ:
INTC)
reported a first quarter profit of $1.44 billion, or 25 cents per share, in line with analysts' estimates. While many investors were expecting weak results, INTC noted in a press release that microprocessor sales were in line with seasonal trends, which could be a good sign for MRVL. If you think that the stock won't fall by too much in the coming months, then now could be a good time to look at a bullish hedged trade on MRVL.
After hitting a one-year high of $20.04 in July, the stock hit a one-year low of $9.77 in January. MRVL opened this morning at $10.76. So far today the stock has hit a low of $10.53 and a high of $10.95. As of 12:30, MRVL is trading at $10.91, up $0.41 (3.9%). The chart for MRVL looks bullish but deteriorating, while S&P gives the stock a neutral 3 STARS (out of 5) hold rating.
For a bullish hedged play on this stock, I would consider an August bull-put credit spread below the $7.50 range. A bull-put credit spread is an options position that combines the purchase and sale of put options to hedge risk in case the stock doesn't do what you think but still leverage nice returns. For this particular trade, we will make an 8.7% return in just four months as long as MRVL is above $7.50 at August expiration. Marvell would have to fall by more than 30% before we would start to lose money. Learn more about this type of trade here.
Continue reading Marvell Tech (MRVL) rising on Intel outlook
Posted Mar 7th 2008 2:30PM by Brent Archer (RSS feed)
Filed under: Major movement, Earnings reports, Forecasts, Bad news, Industry, Broadcom Corp'A' (BRCM), Options, Technical Analysis, Marvell Technology Group (MRVL)
Broadcom Corp. (NASDAQ:
BRCM) stock is falling after fellow chip manufacturer
Marvell (NASDAQ:
MRVL) indicated
an outlook for the first quarter of this year that investors did not like the looks of. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on BRCM.
After hitting a one-year high of $43.07 in October, the stock has hit a new one-year low today. This morning, BRCM opened at $17.75. So far today the stock has hit a low of $17.35 and a high of $18.73. As of 12:30, BRCM is trading at $17.66, down 93 cents (-5.0%). The chart for BRCM looks bearish and steady, while
S&P gives the stock a positive 4 STARS (out of 5) buy rating.
For a bearish hedged play on this stock, I would consider a May
bear-call credit spread above the $22.50 range. A bear-call credit spread is an options position that combines the purchase and sale of call options to hedge risk in case the stock doesn't do what you think but still leverage nice returns. For this particular trade, we will make an 8.7% return in two and a half months as long as BRCM is below $22.50 at May expiration. Broadcom would have to rise by more than 27% before we would start to lose money.
BRCM hasn't been above $22.50 since January and has shown resistance around $20 recently. This trade could be risky if the economic situation turns around, but even if that happens, this position could be protected by resistance BRCM might find at its 50 day moving average, which is currently around $23 and falling.
Brent Archer is an options analyst and writer at
Investors Observer.
DISCLOSURE: Mr. Archer owns and/or controls diversified portfolios of long and short stock and option positions that may include holdings in companies he writes about. At publication time, Brent neither owns nor controls positions in BRCM.
Posted Nov 28th 2007 12:25PM by Brent Archer (RSS feed)
Filed under: Major movement, Earnings reports, Forecasts, Bad news, Options, Technical Analysis, Marvell Technology Group (MRVL)
Marvell Technology Group Ltd. (NASDAQ:
MRVL) stock is falling today after
the company posted a third-quarter loss of $6.4 million after the close yesterday. While MRVL's revenue rose 46% to $758.2 million and EPS beat estimates, this revenue made its fourth-quarter guidance look weak. Wall Street was looking for 6% sequential growth rate in the current quarter; MRVL's forecast translated to 3% sequential growth. If you think this stock won't be rising too far in the coming months, then it could be a good time to look at a bearish hedged play on MRVL.
After hitting a one-year high of $21.85 in December, the stock hit a one-year low of $14.50 today. This morning, MRVL opened at $15.59. So far today the stock has hit a low of $14.50 and a high of $15.59. As of 10:50, MRVL is trading at $15.02, down $1.63 (-9.8%). The chart for MRVL looks bullish but deteriorating slightly, while
S&P gives the stock a neutral 3 STARS (out of 5) hold rating.
Continue reading Marvell (MRVL) sequential growth rate disappoints
Posted Oct 30th 2007 11:15AM by Eric Buscemi (RSS feed)
Filed under: Analyst reports, Sara Lee Corp (SLE), Analyst initiations, Broadcom Corp'A' (BRCM), Marvell Technology Group (MRVL)
MOST NOTEWORTHY: Athenahealth, Marvell Technology, Broadcom and Nvidia were today's noteworthy initiations:
- Athenahealth (NASDAQ: ATHN) was initiated with a Neutral rating at Goldman Sachs. Jefferies started shares of the stock with a Buy rating and $46 target, as they believe their estimates could prove conservative given potential upside from new and existing physicians adopting athenaClinicals.
- Kaufman Bros initiated Marvell Technology (NASDAQ: MRVL) with a Hold rating and $18 target, as they believe near-term growth prospects remain uncertain and recommends waiting for more favorable entry points.
- The firm also initiated Broadcom Corporation (NASDAQ: BRCM) with a Hold rating and $35 target, and believes the company's growth prospects are priced into shares following the recent rally, and started shares of Nvidia Corporation (NASDAQ: NVDA) with a Buy rating and $42 target, as they believe the company's growth opportunity and competitive strength remain intact and would be buyers at current levels.
OTHER INITIATIONS:
Posted Sep 13th 2007 11:14AM by Eric Buscemi (RSS feed)
Filed under: Analyst reports, General Motors (GM), Palm Inc (PALM), , Marriott Intl'A' (MAR), Analyst initiations, Broadcom Corp'A' (BRCM), Marvell Technology Group (MRVL)
MOST NOTEWORTHY: The auto and auto parts sector, Marvell Technology and FMC Technologies were today's noteworthy initiations:
- Citigroup initiated the auto and auto parts sector, and believes strong international growth provides selective opportunities. They upgraded General Motors Corporation (NYSE: GM) to Buy from Sell and Lear Corporation (NYSE: LEA) to Buy from Hold.
- Marvell Technology Group (NASDAQ: MRVL) was initiated with a Neutral rating by Bank of America, which believes the company's earnings power will be limited in FY09.
- FMC Technologies (NYSE: FTI) was assumed with an Overweight by JP Morgan, which believes that subsea development offers one of the best opportunities in the energy sector.
OTHER INITIATIONS:
Posted Jul 16th 2007 10:13AM by Kevin Shult (RSS feed)
Filed under: Before the bell, Analyst reports, Analyst upgrades and downgrades, Time Warner (TWX), Motorola (MOT), Dean Foods (DF), , Marvell Technology Group (MRVL), SanDisk Corp (SNDK)
MOST NOTEWORTHY: Motorola (MOT), SanDisk (SNDK), Time Warner (TWX), Schering-Plough (SGP), GlaxoSmithKline (GSK) and Openwave Systems (OPWV) were some of today's noteworthy upgrades:
- Deutsche Bank believes the worst is over for Motorola (NYSE: MOT) and expects an improvement in growth over the next several quarters, upgrading shares to Buy from Hold.
- CIBC upgraded shares of SanDisk (NASDAQ: SNDK) to Sector Outperformer from Sector Performer following checks that indicate NAND supply is being allocated, visibility is improving, and SanDisk positioning is strengthening.
- Pali Capital raised Time Warner (NYSE: TWX) shares to Buy from Neutral as they believe the "valuation has become too attractive to ignore."
- CIBC upgraded Openwave Systems (NASDAQ: OPWV) to Sector Performer from Sector Underperformer believing the Street's expectations are now in line with expectations, limiting downside potential at these levels...
OTHER UPGRADES:
- Merrill upgraded BT Group (NYSE: BT) to Buy from Sell.
- JP Morgan assumed coverage of Arkansas Best (NASDAQ: ABFS) with a Neutral rating, up from an Underweight rating.
- Merrill upgraded Dean Foods (NYSE: DF) to Neutral from Sell.
Analyst summaries provided by TheFlyOnTheWall.com (subscription required).Posted Jun 11th 2007 12:34PM by Eric Buscemi (RSS feed)
Filed under: Products and services, Microsoft (MSFT), Intel (INTC), Advanced Micro Dev (AMD), Marvell Technology Group (MRVL)
Microsoft Corporation (NASDAQ:
MSFT) might finally be on the verge of seeing the adoption of Vista, wrote Arnie Berman, chief technology strategist, at Cowen & Company late last week.
Berman surveyed 283 corporate IT buyers and found 47% of small- and medium-sized businesses will begin deploying Vista by December 31, this is up from 43% in a similar survey completed in February. 31% of larger enterprises plan to start rolling out Vista by December 31, up from 25% in the previous survey.
How to invest in the long-awaited Vista uptake? Play the Microsoft food chain stocks, particularly since most investors have given up on Vista's adoption, indicating this is where investors could get the most bang for the buck.
Intel Corporation (NASDAQ:
INTC),
Nvidia Corporation (NASDAQ:
NVDA) and
Micron Technology Inc (NYSE:
MU), Berman believes will be beneficiaries of Vista's adoption. Other investment plays include memory chip maker
Qimonda AG (NYSE:
QI), the drive makers
Seagate Technology (NYSE:
STX) and
Western Digital Corporation (NYSE:
WDC), and
Marvell Technology Group Ltd (NASDAQ:
MRVL), a supplier to the drive business.
In our past Intel blogs, the Fly has suggested Intel has capacity in place to start ramping 64 megabyte processors big time, on a scale
Advanced Micro Devices Inc (NYSE:
AMD) does not possess. Berman points out that Intel's enterprise value/sales ratio relative to AMD is close to an all-time low, meaning Intel is cheap relative to AMD despite AMD's recent poor stock performance.
Nvidia at 19x consensus calendar 2007 results has shown the ability to deliver favorable financial surprises and could provide the solution to the greatest potential bottleneck for Vista adoption, the graphic processors.
Micron is selling close to its $10.91 book value which historically has supported the stock and memory demand will increase with the new operating system.
Posted May 18th 2007 1:35PM by Brent Archer (RSS feed)
Filed under: Earnings reports, Bad news, Options, Technical Analysis, Marvell Technology Group (MRVL)
Marvell Technology Group Ltd. (NASDAQ:
MRVL) opened at $17.30. So far today the stock has hit a low of $16.61 and a high of $17.44. As of 1:15, MRVL is trading at $16.69, down $0.31 (-1.8%).
After hitting a one-year high of $28.27 in May 2006, the stock fell quickly and has been trading in the upper teens with strong resistance at 21 over the past ten months. Last night, Marvell reported that its
Q1 revenue rose 22% to $635.1 million, but fell short of analyst expectations of $645.7 million, sending the stock slightly lower. Recent technical indicators for MRVL have been bearish but improving slightly, while
S&P gives the stock a neutral 3 STARS (out of 5) hold rating.
For a bullish hedged play on this stock, I would consider an August
bear-call credit spread above the $20 range. MRVL has not been above $20 for any significant amount of time since July and has shown resistance around $17.70. This trade could be risky if investors think the stock's slide is finished and start buying again, but even if this happens, the stock would have to rise by 18.8% before we would be in trouble.
Brent Archer is an options analyst and writer at Investors Observer.
DISCLOSURE: Mr. Archer owns and/or controls diversified portfolios of long and short stock and option positions that may include holdings in companies he writes about. At publication time, Brent neither owns nor controls a position in MRVL.Next Page >