Marvell price target lowered to $100 from $120 at Needham

Needham analyst N. Quinn Bolton lowered the firm’s price target on Marvell (MRVL) to $100 from $120 but keeps a Buy rating on the shares. The company’s Q4 results were in-line and its business and outlook are essentially unchanged, but the stock sold off as investors are satisfied by very little in the current environment, the analyst tells investors in a research note. The weakness around the print represents a buying opportunity, the firm added.