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.
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.