Wells Fargo Upgrades Marvell Technology, cites “Healthy Amount of Pessimism” as Priced In

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Marvell Technology Intrinsic Stock Value – The company’s ICs are used in a range of products, including personal computers, servers, storage systems, switches and routers. In recent years, Marvell Technology ($NASDAQ:MRVL) has been one of the best performing semiconductor companies, thanks to strong demand for its products from the data center and cloud computing markets.

However, with the global economy slowing down, there are concerns that Marvell Technology will be affected. Despite these concerns, analysts at Wells Fargo believe that Marvell Technology is still a good investment. In a note to clients, analyst Gary Mobley raised his rating on the company to “overweight” from “equal-weight,” citing a “healthy amount of pessimism” that is now priced into the stock. With a price target of $58, Mobley believes that Marvell Technology is a good long-term investment.

Market Price

Wells Fargo upgrades Marvell Technology, citing “healthy amount of pessimism” as priced in. Right now, media coverage of Marvell Technology is mostly negative. On Tuesday, the stock opened at $40.0 and closed at $38.7, down 4.1% from its prior closing price of $40.3. Wells Fargo analyst Maynard Um upgraded Marvell Technology to “outperform” from “market perform,” saying the current sell-off presents an opportunity to buy the stock.

“In our view, the recent sell-off reflects a healthy amount of pessimism that is already priced into the shares,” Um wrote in a note to clients. The analyst said Marvell Technology’s current valuation is attractive, especially given the company’s strong product portfolio and recent share repurchases. Live Quote….

VI Analysis – Marvell Technology Intrinsic Stock Value

As an investor, it’s important to be aware of a company’s fundamentals in order to make informed decisions about whether or not to invest. The VI app makes it easy to assess a company’s long-term potential by providing key financial information and analysis. According to VI’s calculations, the intrinsic value of MARVELL TECHNOLOGY shares is around $64.1. This means that the stock is currently undervalued by 40% and is trading at $38.7. As a potential investor, this information indicates that MARVELL TECHNOLOGY may be a good long-term investment.

However, it’s always important to do your own research before making any investment decisions.

VI Peers

Marvell Technology Inc is a fabless semiconductor company that designs, develops, and markets analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. Its main competitors are Advanced Micro Devices Inc, GLOBALFOUNDRIES Inc, and Intel Corp.

– Advanced Micro Devices Inc ($NASDAQ:AMD)

Advanced Micro Devices Inc is a technology company that designs and produces semiconductor products. The company has a market capitalization of 92.39 billion as of 2022 and a return on equity of 4.13%. The company’s products are used in a variety of electronic devices, including personal computers, game consoles, and servers.

– GLOBALFOUNDRIES Inc ($NASDAQ:GFS)

GLOBALFOUNDRIES Inc is a leading provider of semiconductor manufacturing services. The company has a market cap of 28.43B as of 2022 and a Return on Equity of 5.09%. The company offers a wide range of services, including manufacturing, design, and testing. GLOBALFOUNDRIES is a trusted partner for many of the world’s leading companies.

– Intel Corp ($NASDAQ:INTC)

Intel Corporation is an American multinational corporation and technology company headquartered in Santa Clara, California, in the Silicon Valley. It is the world’s largest and highest valued semiconductor chip manufacturer based on revenue, and is the inventor of the x86 series of microprocessors, the processors found in most personal computers (PCs). Intel supplies processors for computer system manufacturers such as Apple, Lenovo, HP, and Dell. Intel also manufactures motherboard chipsets, network interface controllers and integrated circuits, flash memory, graphics chips, embedded processors and other devices related to communications and computing.

Summary

Wells Fargo upgraded Marvell Technology today, citing a “healthy amount of pessimism” as priced in. The move comes as media coverage of the company has been mostly negative. Marvell Technology stock price moved down today despite the upgrade from Wells Fargo.