From Alphastreet - Earnings Decoded. Market Intelligence Delivered · AlphaStreet Newsdesk · · 40s
Marvell Shares Drop 6.3% Despite Analyst Upgrades
Marvell Technology shares fell 6.3% Thursday as Wall Street firms raised price targets but investors took profits.
In brief
Marvell Technology shares fell 6.3% Thursday as Wall Street firms raised price targets but investors took profits. Marvell Technology shares dropped 6.3% after UBS and other banks raised price targets, but investors took profits. Originally reported by Alphastreet - Earnings Decoded. Market Intelligence Delivered.
Marvell Shares Tumble
Marvell Technology shares dropped 6.3% Thursday closing at $266.83 as investors took profits after bullish analyst upgrades.
Analyst Price Targets Rise
Eight major firms raised price targets: UBS lifted from $335 to $350, Jefferies jumped from $325 to $450, and others increased targets by 26.1%.
Investor Reaction
Trading volume surged to 16.7M shares as the semiconductor stock retreated despite positive analyst sentiment and a $239.8B market cap.
The big picture
Marvell Technology shares dropped 6.3% after UBS and other banks raised price targets, but investors took profits.
