Marvell downgraded to Market Perform from Outperform at JMP Securities JMP Securities downgraded Marvell following the $1.7B jury award against the company and the impact on its balance sheet. The firm adds that checks indicate ongoing weakness in PC demand and that there are other lawsuits in the process.
Marvell willingness to explore alternatives a positive, says Brean Capital Brean Capital noted Marvell reported a top-line miss but beat earnings by a penny and the firm said it was disappointed by the company's lower guidance. The firm believes that management's comment regarding their willingness to explore alternatives for its mobile business is positive and that a sale or joint venture could lead to significant upside. Brean Capital maintained its Buy rating and $17 price target on Marvell shares.