Marvell increases share repurchase program by additional $500M Marvell announced that the board has authorized Marvell to repurchase up to an additional $500M under its share repurchase program. With this increase, the cumulative total share repurchase authorized will amount to $3B. As of the end of Marvell's third fiscal quarter of 2013 ended October 27, Marvell had made approximately $2.1B in share repurchases under the prior
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.