Storage and Networking to be the Stars of Marvell Technology's Upcoming Results
Chipmaker Marvell Technology (NASDAQ: MRVL) has been tweaking its business to focus more on fast-growing opportunities such as the Internet of Things and storage. It recently offloaded its multimedia solutions business to Synaptics for $95 million. That was the second deal for Marvell after the company sold its home networking business to MaxLinear earlier this year.
As it stands, the chipmaker will no longer sell processors for set-top boxes and other over-the-top multimedia platforms, giving management room to explore opportunities in the networking and storage markets.
But are these moves to reduce its revenue streams wise? The company's fiscal second-quarter results are due after the close on Aug. 24 -- here are the trends investors should be watching to determine if the company is laying the groundwork for future success.
Source: Fool.com
Marvell Technology Inc. Stock
The stock is one of the favorites of our community with 52 Buy predictions and 2 Sell predictions.
With a target price of 82 € there is a slightly positive potential of 18.88% for Marvell Technology Inc. compared to the current price of 68.98 €.
