Piper Sandler lowered the firm’s price target on Marvell (MRVL) to $95 from $120 and keeps an Overweight rating on the shares. The firm notes the company reported roughly in-line quarters for January and April guidance. All in all, the data center segment carried the way for the January quarter, growing 24% quarter-over-quarter. Going forward, Piper sees DC segment growth in the 4% range sequentially in its model primarily because of non-AI pieces slowing down quite significantly.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MRVL:
- Marvell price target lowered to $90 from $113 at Morgan Stanley
- Marvell price target lowered to $115 from $135 at KeyBanc
- Marvell Technology: Balancing Expectations with Performance – Hold Rating Maintained
- Marvell price target lowered to $120 from $150 at BofA
- Marvell price target lowered to $120 from $140 at Wells Fargo