Marvell Q2 results very disappointing, says Cowen Cowen said Marvell reported very disappointing Q2 results and believes management should have preannounced. The firm cited soft core hard disk-drive results and losses in the China TD smartphone market. Cowen believes long term value investors should wait for the stock to stabilize and but it based on its cash levels and dividend yield. Shares remain Outperform rated.
Broadcom price target raised to $52 from $48 at Oppenheimer Oppenheimer raised its price target on Broadcom as the firm believes that the tone at the company's Analyst Day was positive. The firm thinks the company's networking unit looks poised for further share gains at Marvell's (MRVL) expense. Oppenheimer continues to recommend buying the stock.