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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?


To: Donald Wennerstrom who wrote (40002)8/27/2008 6:28:03 PM
From: Donald Wennerstrom  Respond to of 95617
 
Marvell Tech: The Plunge before tomorrow's Earnings Call

Posted August 27th, 2008 by theStockMasters... in Financial News

Marvell Technology Group Ltd. (NASDAQ:MRVL) reports Q2 earnings tomorrow (8/28) after the close but got a kick in the pants downgrade from Jefferies & Co yesterday. The result sent shares down 10% this week and with mixed analyst reviews, who do you believe?

Jefferies & Co, citing slowing growth in the hard-disk drive market and market share losses at Research In Motion (Nasdaq: RIMM) downgraded shares of Marvell from Buy to Hold and slashed its price target from $22 to $15. The firm also cut 2008 EPS estimates from $0.97 to $0.91 and 2009 from $1.10 to $0.97.

The analyst said Marvell will no longer be able to drive top-line growth at premium growth rates because of sluggish demand for hard-disk drives. They also said Marvell appears to have lost the design for Research In Motion's Javelin to Freescale.

thestockmasters.com