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Technology Stocks : Semi Equipment Analysis

SOXX 299.81

+2.7%

Dec 19 4:00 PM EST

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To: Donald Wennerstrom who wrote (59974)	5/24/2013 11:45:21 AM
From: Donald Wennerstrom	1 Recommendation Read Replies (1) of 95616

MARKET TALK: Marvell's Struggles Persist Despite Beat, View May 24, 2013 11:08:46 (ET) 11:08 EDT - While Marvell (MRVL) handily beat F1Q EPS targets and gave an upbeat 2Q view, and JMP boosted its own forecasts, the investment bank says investors should sell into strength today as it downgrades the chip maker to market underperform and set an $8 price target. JMP notes MRVL's revenue and EPS are still falling as it highlights the company's "weaker gross-margin outlook...slipping cash flows and cash balance, and poor quality of earnings." MRVL plays in a bunch of crowded sandboxes like Smart TVs and Chinese smartphones, and the company "is lagging in time to market and has yet to prove itself," contends JMP. Shares have notably pared early strength and are up 0.7% at $11.40 amid the broader market's weakness.

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