I am short term bearish - not foolish... its unlikely to break below 10. It held (barely) SMA 200 today.
I was long MRVL before but sentiment has clearly changed post results. I don't know if this is manipulation but right now companies are being rewarded for taking slimming down effort and focusing on established strengths.
- BRCM shedding cellular and focusing on networking/cellular
- TXN shedding cellular and focusing on Analog
- NVDA curtailing mobility and focusing on graphics/processors
unfortunately MRVL doesn't have that luxury and also being a founder driven company they are known to not admit defeat easily. However, they are facing QCOM/Mediatek/Intel headwind and not making progress as rapidly as was expected in mobility. If you talk to MRVL engineers you will realize that they were fantastically situated with RIMM, PALM, MOTOROLA after acquiring X-Scale business from Intel but MRVL management starved R&D rather than aggressively developing cellular modems and integrating with AP.
yeah - keep dreaming, if they could settle CMU - they would have done that a year ago. CMU is in no hurry now.
There is no upside, only downside... will cover in 12-13 range.
- CMU litigation
- HDD decline
- Flash Controller moving inhouse at flash manufacturers
- Mobile strategy in tatters
- Networking segment losing market share and lagging competition
- Connectivity losing market share
I was sweating my short position. Did they announce a price target? They previously had MRVL at Hold and $9 price target. I wonder if they lowered the price target or, simply downgraded the stock to Sell.
even though short interest is down to all time low - can't blame this in short manipulation. It can only mean that apart from KKR and Pantas, Greenlight is also dumping stock.
Given Marvell's shady past - other institutional investors are shying away from this stock.
KKR filed with SEC that they sold 22M shares on 5th June. Yet Nasdaq is only reporting 16M share total volume on 6/5.
I thought even dark pools have to report stock transactions - but looking at this oddity I don't think dark pool transactions are reported the same way as regular exchanges.
they all say that but do sell at the right price.
I suspect a $30 offer will not be turned down. Intel would be the most likely buyer if they want to challenge QCOM in wireless.
I mean the company - now that KKR is out, MRVL should entertain offers from Intel, QCOM or, even Broadcom... lets get back to $25 in a hurry. Also, if MRVL announces a settlement with CMU, the stock will trade at $20.
thank you Jefferies for getting lemmings to sell CIEN, FNSR, JDSU etc. ahead of earnings report.
This company has too many outs - it can put itself for sale and fetch $20-25 price or, buyback $100M in stock, reduce float and get back to growth in couple of quarters.
hmm... this stock buyback blows. It means no PE takeout in the offing. Not happy about this - they should have either come out with $500M buyback or, nothing. The most $100M will do is offset stock dilution from all the options awarded.
I don't have any inside information - just going by trading patterns and looking at past PE deals.
JDSU is undervalued, management has failed to deliver, lots of investments for future growth are already in place, a PE can come in and buy a profitable company for a decent premium.
I have a huge position in JDSU at this point. Average price under 10.5. I expect a buyout in 16-18 range.
did JDSU tank the stock on purpose...
hopefully the answer will be known shortly. very interesting volume and stock pattern.
I think delisting on Toronto exchange, debt issuance are all hallmarks of a PE play in collaboration with management.
I think every analyst asking questions today started of with a hearty congratulations for the quarter. You can only expect EPS revisions higher and upgrades after this performance.
Plus the news that MRVL is qualified with both AT&T and Verizon with their LTE modem. Plus the sneaky bit of news that LSI is exiting Flash Controller business ... its all good.
I bought more after hours - can't believe this stock is on sale after such a beat.
here we go, the negative ninny is at it again
you should stop writing on message boards sitting in front of a mirror. How long have you been long while pretending to hate this stock... come on now fess-up