MRVL Downgraded
Source: http://www.zacks.com/stock/news/14427/MRVL+Downgraded+Posted on Tuesday, August 26th, 2008 | In Stocks to Watch
An analyst downgrade led to a more than 6.6% decline in shares of Marvell Technology (MRVL) on Tuesday. According to news reports, a couple of the reasons for the downgrade include slower growth and the possibility that MRVL was beat out for a design deal with Research In Motion (RIMM).
Despite todays drop, investors should pay more attention to earnings estimate revisions since they are a much better indicator than brokerage upgrades or downgrades. That being said, MRVL is a Zacks #1 Rank company with earnings estimates for this fiscal year that have increased 4.8% in just the past 7 trading days. Furthermore, analysts expect next years earnings per share to top this years by as much as 23%.
MRVLs fiscal second-quarter report later this week will be a much better indicator for the companys health and potential. At the moment, analysts expect 14 cents per share for the quarter, which marks a penny advance in the past 7 days.
“MRVL” Free Stock Analysis: Buy? Sell? Hold?
“RIMM” Free Stock Analysis: Buy? Sell? Hold?
Zacks Investment Research
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 About James Giaquinto (http://www.zacks.com/)
James Giaquinto is an Editor at Zacks Investment Research. |
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