Marvell to appeal negative patent verdict, says Citigroup After speaking with the company, Citigroup said Marvell intends to file post-trial motions following the negative verdict in the Carnegie Mellon University patent case, and should those not succeed, an appeal. Citi says Marvell asserted that the case is without merit. The firm expects the initial verdict against to be an overhang on Marvell shares for some time.
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.