Keybanc analyst John Vinh maintains Marvell Tech (NASDAQ:MRVL) with a Overweight and raises the price target from $70 to $95.
Keybanc analyst maintains Marvell Tech (NASDAQ:MRVL) with a Overweight Read Post »
Piper Sandler analyst Brent Bracelin maintains MongoDB (NASDAQ:MDB) with a Overweight and lowers the price target from $500 to $480.
Piper Sandler analyst maintains MongoDB (NASDAQ:MDB) with a Overweight Read Post »
Bernstein analyst Stacy Rasgon maintains Broadcom with a Outperform and raises the price target from $1250 to $1600.
Bernstein analyst maintains Broadcom with a Outperform Read Post »
Marvell Technology’s (MRVL) shares were 5.7% lower in premarket Friday after dropping as much as 10% in late-hours trading on Thursday, following the company’s fiscal Q4 results that showed its Q1 earnings forecast missed estimates and the board expanded a share buyback program. The company reported fiscal Q4 adjusted earnings late Thursday of $0.46 per diluted share, unchanged from a year earlier. Analysts polled by Capital IQ estimated 0.46 per share. Revenue for the quarter ended Feb. 3 was $1.43 billion, up from $1.42 billion a year earlier. Analysts surveyed by Capital IQ forecast $1.42 billion. The chipmaker said it projects fiscal Q1 adjusted EPS of $0.18 to $0.28 on revenue of $1.15 billion, plus or minus 5%. Analysts polled by Capital IQ are looking for an adjusted EPS of $0.40 and revenue of $1.37 billion. Separately, Marvell said its board approved a $3 billion increase in its stock repurchase
CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We up our 12-month target price to $94 from $84 on a higher revised P/E of 34.8x our CY 25 EPS view, above peers but within five-year historical forward average. We adjust our FY 25 (Jan.) EPS view to $1.82 from $2.31 and FY 26 to $2.70 from $2.79. MRVL posts Jan-Q EPS of $0.46 vs. $0.46, matching the consensus. Although MRVL again provided disappointing guidance, we finally believe non data center markets are set to bottom in the Apr-Q at extremely depressed levels, with steeper seq. declines in carrier (-50%), enterprise networking (-40%), and consumer (-70%). All end-markets are poised to recover thereafter. AI-related revenue drove data center upside, up 54% (+38% seq.), and we think its pipeline offers upside given opportunities tied to its Optics
CFRA Maintains Strong Buy Opinion On Shares Of Marvell Technology, Inc. Read Post »
CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We bump our 12-month target to $1,600 from $1,500 on a P/E of 28.1x our CY 25 EPS view, above historical given accelerating growth/exposure to software and AI revenue. We keep our FY 24 (Oct.) EPS at $49.16 and FY 25 at $56.90. AVGO posts Jan-Q EPS of $10.99 vs. $10.33, beating the $10.42 consensus. Sales rose 34% (+11% ex. VMware), with Infrastructure Software +153% and Semiconductor Solutions +4%. Software bookings tripled seq. to $1.8B (seen rising to $3B in Apr-Q), on success in upgrading customers to its higher value VMware Cloud Foundation offering. We think AI semi momentum remains strong (quadrupled Y/Y), driven by its Ethernet and customer silicon businesses (combined $10B in FY 24 at 70-30 split), and more than offsetting protracted enterprise and telco
CFRA Maintains Buy Opinion On Shares Of Broadcom Inc. Read Post »
By Emily Dattilo Marvell Technology’s financial outlook was disappointing for investors, but Wall Street strategists are recommending patience. When the semiconductor firm reported fourth-quarter earnings on Thursday, it said it expects revenue with a midpoint of $1.15 billion for the current quarter, lower than the $1.38 billion analysts had penciled in. “While we are forecasting soft demand impacting consumer, carrier infrastructure, and enterprise networking in the near term, we expect revenue declines in these end markets to be behind us after the first quarter, and project a recovery in the second half of the fiscal year,” CEO Matt Murphy said. Traders weren’t thrilled with the guidance, sending shares down 6% to $80.02 in premarket trading. Meanwhile, analysts channeled a more long-term and upbeat view. Needham researchers led by N. Quinn Bolton raised their price target on shares to $95 from $65 and maintained a Buy rating in a Friday report.
DocuSign’s (DOCU) better-than-expected fiscal fourth-quarter results demonstrated continued robustness in its core technology, as the company saw improvements in the reach of its go-to-market initiatives and in the operating leverage of its business model, Wedbush Securities said in a Friday client note. The electronic signature firm late Thursday recorded an 8% gain in revenue for the quarter ended Jan. 31 to $712.4 million, topping the Capital IQ-polled consensus of $699.4 million. The topline surpassed the company’s own guidance as it saw further momentum with product innovation and customer growth globally, according to Wedbush. Billings advanced 13% on an annual basis to $833.1 million, with the company benefiting from spillovers from the prior three-month period. DocuSign also experienced renewal strength in the quarter with sharp use cases across the small- and medium-sized business and enterprise landscape, the brokerage said. Wedbush maintained its neutral rating on the company’s stock and lifted the
By Angela Palumbo DocuSign stock was climbing Friday as analysts praised the electronic-signature company’s earnings but remained cautious about its near-term prospects. Shares of DocuSign were rising 9% in premarket trading Friday to $58.40. Coming into the session, the stock has gained 7.8% over the last 12 months has fallen 10% so far this year. Fourth-quarter earnings were a “big step in the right direction for the DOCU story,” Wedbush analyst Dan Ives said in a research note. He raised his price target on the stock to $65 from $56, while maintaining a Neutral rating. DocuSign reported fourth-quarter earnings, revenue, and bookings that beat analysts’ estimates after the stock market closed Thursday, and also issued better-than-expected revenue guidance. “We substantially increased the amount of business from customers signing and renewing multiyear multimillion dollar contracts with DocuSign,” Chief Executive Allan Thygesen said on the company’s earnings conference call. DocuSign also discussed
Broadcom is one of the most mentioned companies in the U.S. across all news items in the last 12 hours, according to Factiva data. Broadcom’s first-quarter profits missed Wall Street forecasts on deal-related costs as strong demand for AI-related products boosted semiconductor sales. The chip and software company said sales for the quarter were $11.96 billion, up 34% from the year before, because of its acquisition of software-maker VMware. The company made $1.33 billion in profit in the quarter, down from $3.78 billion the same period a year earlier and behind the expectations of a FactSet survey of analysts. Dow Jones & Co. owns Factiva.
Broadcom Reports Strong 1Q Earnings Read Post »
Needham analyst Quinn Bolton maintains Marvell Tech with a Buy and raises the price target from $65 to $95.
Needham analyst maintains Marvell Tech with a Buy Read Post »
Keybanc analyst Eric Heath maintains MongoDB with a Overweight and lowers the price target from $543 to $490.
Keybanc analyst maintains MongoDB with a Overweight Read Post »