KeyBanc lowered the firm’s price target on Marvell (MRVL) to $115 from $135 and keeps an Overweight rating on the shares. The firm notes the company reported solid Q4 results and Q1 guidance. However, Q4 Data Center revenues of $1.37B were in line but still grew meaningfully +24% quarter-over-quarter and +78% year-over-year. KeyBanc is encouraged by the results and is fine-tuning estimates and introducing FY27.
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- Marvell Technology: Balancing Expectations with Performance – Hold Rating Maintained
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