Marvell Technology Inc (MRVL)

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07:39 MRVL Marvell: Color on qtr (17.00 )

FBR says MRVL delivered a disappointing report, missing slightly on revenue for FY 1Q08, and also guided FY2Q below consensus. While the co is still not yet reporting full financials, they say it also appears that expense levels were elevated as well. Their ests come down as a result. Net, with weakness in storage, elevated expense levels, and a continuing overhang from the options investigation, the firm is not yet convinced that fundamentals have bottomed. They do believe that handsets are likely to be a source of optimism for 2008, but they think it is too early to be buyers of MRVL shares... CIBC says that with soft reports out of H.D.D makers this past earnings season and weak data for Sony's PS3 and Motorola's handset unit, they believe this was built into investor expectations. The firm says clearer skies are visible on the horizon, and they believe the stock is largely washed out... Prudential remains concerned about the integration of the Intel xScale acquisition, the options investigation, and the risk of multiple contraction as more investors use EPS estimates that include options expense. They continue to believe the risk/reward equation is skewed to the negative.