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Technology Stocks : Semi Equipment Analysis

SOXX 283.58

+0.3%

Nov 25 4:00 PM EST

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To: robert b furman who wrote (30263)	5/5/2006 11:05:39 AM
From: Donald Wennerstrom	of 95474

I noticed MRVL was "jumping" this morning. I found the following upgrade article. <<Initiating Marvell Technology Group At Overweight, Given The Stock's Underperformance Year-to-date - Morgan Stanley Comments Friday May 05 2006 09:40:00 EDT (RTTNews) - Friday, Morgan Stanley initiated coverage of Marvell Technology Group Ltd. (MRVL) with an Overweight rating. The brokerage set a $70 price target for the company's shares. Analyst Louis Gerhardy noted that the stock has underperformed the SOX, NASDAQ and the S&P 500, year-to-date. The analyst believes Marvell has now discounted recent concerns about the sustainability of its Maxtor business, the timing of its 802.11n ramp, and concerns about video MP3 HDD demand. Gerhardy said he views $50 as a likely low point for the stock, as it would then be trading at 20 times his CY07 EPS estimate, a multiple he sees as a trough for premium large-cap growth stocks. MRVL closed Thursday's regular trading session at $57.04.>>

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