![]() ![]() “Looking out further, we believe that the $4.00 bogey we have been discussing by CY25 is now likely conservative – with earnings likely tracking closer to $4.25+ when all is said and done (at a minimum),” Muse continued, while boosting his price target to $105 from $72 and keeping an outperform rating.Calvin Choi, Chairman of AMTD Group and AMTD Digital, welcomed Osman to the Company: “We are thrilled to have Mr. Muse now sees “a clear path to a $3.25+ earnings stretch goal in FY24,” whereas the consensus was for $2.43 a share, he said. “Taking a step back, we have been highlighting Marvell as one of the best growth stories in semis, and to this end they are clearly not disappointing,” Evercore ISI analyst C.J. The report served as validation for those who had already taken bullish views on the stock and are now bringing their expectations higher. ![]() “Marvell has transformed itself from being a fast-follower to a market leader of providing semi-custom, integrated ICs on leading-edge silicon that address bandwidth friction existing in today’s networks,” he wrote, while increasing his price target to $100 from $60. “It’s hard to argue this was anything but a watershed quarter with a triad of better results, better guidance, and an expanding design pipeline that anchors a new F23 guide,” Ackerman wrote.Īckerman cheered Marvell’s recent evolution, anchored by “portfolio-optimization” progress that has made the company increasingly competitive, in his view. Marvell’s report sparked at least one upgrade from a research analyst: Cowen & Co.’s Karl Ackerman, who lifted his rating on Marvell’s stock to outperform from market perform. Subscribe: Want intel on all the news moving markets? Sign up for our daily Need to Know newsletter. “Marvell just pulled an ‘Nvidia’ on the Street last night, with an unambiguous beat and raise and taking FY23 sales growth to over 30%,” Rosenblatt Securities analyst Hans Mosesmann wrote. Klein wasn’t alone in likening Marvell to a red-hot chip stock. The current FactSet EPS consensus is $1.54 for the current fiscal year, and is $2.20 for next year. ![]() The company has a “clear line of sight given a backlog full of design wins that has basically locked in that growth rate” on the revenue line, he said in his note. He argued, amid the company’s cheery growth projections and likely expectations among the bull camp for $4 a share in annual earnings power within a few years. Marvell “will be in the same camp now” as Advanced Micro Devices Inc. “In fact, it was a GAME-CHANGER for investors and in my view squarely positions Marvell as a best-in-class GROWTH SEMI into CY22,” he continued. The company’s earnings call could have been “one of the best (if not the best) semi conf calls I have listened to in quite some time,” wrote Mizuho desk-based analyst Jordan Klein in a note affiliated with Mizuho’s sales operations and not its research team. Chief Financial Officer Jean Hu said on the earnings call late Thursday that she expects “continued strong demand across our end markets and improvement in supply to drive our top line revenue growth above 30% in fiscal 2023.” That projection generated enthusiasm, as did Marvell’s January-quarter revenue forecast that implied upwards of 60% growth. ![]()
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |