Intrinsic value of Marvell Technology Group - MRVL

Previous Close

$15.25

  Intrinsic Value

$4.57

stock screener

  Rating & Target

str. sell

-70%

Previous close

$15.25

 
Intrinsic value

$4.57

 
Up/down potential

-70%

 
Rating

str. sell

We calculate the intrinsic value of MRVL stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 10.0

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  5.60
  5.54
  5.49
  5.44
  5.39
  5.35
  5.32
  5.29
  5.26
  5.23
  5.21
  5.19
  5.17
  5.15
  5.14
  5.12
  5.11
  5.10
  5.09
  5.08
  5.07
  5.07
  5.06
  5.05
  5.05
  5.04
  5.04
  5.03
  5.03
  5.03
Revenue, $m
  2,544
  2,685
  2,832
  2,986
  3,147
  3,316
  3,492
  3,677
  3,870
  4,073
  4,285
  4,507
  4,740
  4,985
  5,241
  5,509
  5,791
  6,086
  6,396
  6,721
  7,062
  7,419
  7,795
  8,189
  8,602
  9,036
  9,491
  9,969
  10,471
  10,997
Variable operating expenses, $m
  2,388
  2,509
  2,636
  2,768
  2,907
  3,052
  3,204
  3,362
  3,529
  3,703
  3,686
  3,877
  4,078
  4,288
  4,508
  4,739
  4,981
  5,236
  5,502
  5,782
  6,075
  6,383
  6,706
  7,044
  7,400
  7,773
  8,165
  8,576
  9,007
  9,460
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  2,388
  2,509
  2,636
  2,768
  2,907
  3,052
  3,204
  3,362
  3,529
  3,703
  3,686
  3,877
  4,078
  4,288
  4,508
  4,739
  4,981
  5,236
  5,502
  5,782
  6,075
  6,383
  6,706
  7,044
  7,400
  7,773
  8,165
  8,576
  9,007
  9,460
Operating income, $m
  156
  176
  196
  218
  240
  264
  289
  314
  341
  370
  599
  630
  662
  697
  732
  770
  809
  850
  894
  939
  987
  1,037
  1,089
  1,144
  1,202
  1,263
  1,326
  1,393
  1,463
  1,537
EBITDA, $m
  406
  429
  452
  477
  502
  529
  557
  587
  618
  650
  684
  719
  757
  796
  837
  879
  924
  971
  1,021
  1,073
  1,127
  1,184
  1,244
  1,307
  1,373
  1,442
  1,515
  1,591
  1,671
  1,755
Interest expense (income), $m
  0
  0
  2
  3
  5
  7
  9
  11
  14
  16
  18
  21
  24
  27
  29
  33
  36
  39
  43
  47
  50
  55
  59
  63
  68
  73
  78
  84
  90
  96
  102
Earnings before tax, $m
  156
  174
  193
  213
  233
  255
  277
  301
  326
  351
  578
  606
  636
  667
  700
  734
  770
  808
  847
  889
  932
  978
  1,026
  1,076
  1,129
  1,184
  1,242
  1,303
  1,367
  1,435
Tax expense, $m
  42
  47
  52
  57
  63
  69
  75
  81
  88
  95
  156
  164
  172
  180
  189
  198
  208
  218
  229
  240
  252
  264
  277
  291
  305
  320
  335
  352
  369
  387
Net income, $m
  114
  127
  141
  155
  170
  186
  202
  220
  238
  256
  422
  442
  464
  487
  511
  536
  562
  590
  618
  649
  681
  714
  749
  786
  824
  865
  907
  951
  998
  1,047

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  3,471
  3,663
  3,864
  4,074
  4,294
  4,524
  4,764
  5,016
  5,280
  5,556
  5,846
  6,149
  6,467
  6,800
  7,149
  7,516
  7,900
  8,303
  8,725
  9,169
  9,634
  10,122
  10,634
  11,171
  11,735
  12,327
  12,948
  13,600
  14,284
  15,003
Adjusted assets (=assets-cash), $m
  3,471
  3,663
  3,864
  4,074
  4,294
  4,524
  4,764
  5,016
  5,280
  5,556
  5,846
  6,149
  6,467
  6,800
  7,149
  7,516
  7,900
  8,303
  8,725
  9,169
  9,634
  10,122
  10,634
  11,171
  11,735
  12,327
  12,948
  13,600
  14,284
  15,003
Revenue / Adjusted assets
  0.733
  0.733
  0.733
  0.733
  0.733
  0.733
  0.733
  0.733
  0.733
  0.733
  0.733
  0.733
  0.733
  0.733
  0.733
  0.733
  0.733
  0.733
  0.733
  0.733
  0.733
  0.733
  0.733
  0.733
  0.733
  0.733
  0.733
  0.733
  0.733
  0.733
Average production assets, $m
  1,290
  1,361
  1,436
  1,514
  1,596
  1,681
  1,771
  1,864
  1,962
  2,065
  2,172
  2,285
  2,403
  2,527
  2,657
  2,793
  2,936
  3,086
  3,243
  3,407
  3,580
  3,762
  3,952
  4,152
  4,361
  4,581
  4,812
  5,054
  5,309
  5,575
Working capital, $m
  107
  113
  119
  125
  132
  139
  147
  154
  163
  171
  180
  189
  199
  209
  220
  231
  243
  256
  269
  282
  297
  312
  327
  344
  361
  380
  399
  419
  440
  462
Total debt, $m
  30
  63
  98
  134
  172
  211
  253
  296
  341
  389
  439
  491
  545
  603
  663
  726
  792
  861
  934
  1,010
  1,090
  1,174
  1,262
  1,355
  1,452
  1,553
  1,660
  1,772
  1,890
  2,014
Total liabilities, $m
  597
  630
  665
  701
  739
  778
  819
  863
  908
  956
  1,005
  1,058
  1,112
  1,170
  1,230
  1,293
  1,359
  1,428
  1,501
  1,577
  1,657
  1,741
  1,829
  1,921
  2,018
  2,120
  2,227
  2,339
  2,457
  2,580
Total equity, $m
  2,874
  3,033
  3,199
  3,373
  3,555
  3,746
  3,945
  4,153
  4,372
  4,601
  4,840
  5,091
  5,355
  5,631
  5,920
  6,223
  6,541
  6,875
  7,225
  7,592
  7,977
  8,381
  8,805
  9,250
  9,717
  10,207
  10,721
  11,261
  11,828
  12,422
Total liabilities and equity, $m
  3,471
  3,663
  3,864
  4,074
  4,294
  4,524
  4,764
  5,016
  5,280
  5,557
  5,845
  6,149
  6,467
  6,801
  7,150
  7,516
  7,900
  8,303
  8,726
  9,169
  9,634
  10,122
  10,634
  11,171
  11,735
  12,327
  12,948
  13,600
  14,285
  15,002
Debt-to-equity ratio
  0.010
  0.020
  0.030
  0.040
  0.050
  0.060
  0.060
  0.070
  0.080
  0.080
  0.090
  0.100
  0.100
  0.110
  0.110
  0.120
  0.120
  0.130
  0.130
  0.130
  0.140
  0.140
  0.140
  0.150
  0.150
  0.150
  0.150
  0.160
  0.160
  0.160
Adjusted equity ratio
  0.828
  0.828
  0.828
  0.828
  0.828
  0.828
  0.828
  0.828
  0.828
  0.828
  0.828
  0.828
  0.828
  0.828
  0.828
  0.828
  0.828
  0.828
  0.828
  0.828
  0.828
  0.828
  0.828
  0.828
  0.828
  0.828
  0.828
  0.828
  0.828
  0.828

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  114
  127
  141
  155
  170
  186
  202
  220
  238
  256
  422
  442
  464
  487
  511
  536
  562
  590
  618
  649
  681
  714
  749
  786
  824
  865
  907
  951
  998
  1,047
Depreciation, amort., depletion, $m
  250
  253
  256
  259
  262
  265
  269
  272
  276
  280
  85
  90
  94
  99
  104
  110
  115
  121
  127
  134
  140
  148
  155
  163
  171
  180
  189
  198
  208
  219
Funds from operations, $m
  364
  380
  397
  414
  432
  451
  471
  492
  514
  537
  507
  532
  558
  586
  615
  645
  677
  711
  746
  782
  821
  861
  904
  948
  995
  1,044
  1,096
  1,150
  1,206
  1,266
Change in working capital, $m
  6
  6
  6
  6
  7
  7
  7
  8
  8
  9
  9
  9
  10
  10
  11
  11
  12
  12
  13
  14
  14
  15
  16
  17
  17
  18
  19
  20
  21
  22
Cash from operations, $m
  358
  374
  390
  408
  425
  444
  464
  484
  506
  528
  498
  523
  549
  576
  604
  634
  665
  698
  733
  769
  807
  846
  888
  932
  978
  1,026
  1,077
  1,130
  1,185
  1,244
Maintenance CAPEX, $m
  -48
  -51
  -53
  -56
  -59
  -63
  -66
  -69
  -73
  -77
  -81
  -85
  -90
  -94
  -99
  -104
  -110
  -115
  -121
  -127
  -134
  -140
  -148
  -155
  -163
  -171
  -180
  -189
  -198
  -208
New CAPEX, $m
  -69
  -71
  -75
  -78
  -82
  -85
  -89
  -94
  -98
  -103
  -108
  -113
  -118
  -124
  -130
  -136
  -143
  -150
  -157
  -165
  -173
  -181
  -190
  -200
  -210
  -220
  -231
  -242
  -254
  -267
Cash from investing activities, $m
  -117
  -122
  -128
  -134
  -141
  -148
  -155
  -163
  -171
  -180
  -189
  -198
  -208
  -218
  -229
  -240
  -253
  -265
  -278
  -292
  -307
  -321
  -338
  -355
  -373
  -391
  -411
  -431
  -452
  -475
Free cash flow, $m
  241
  252
  262
  273
  284
  296
  308
  321
  335
  349
  310
  325
  341
  358
  375
  394
  413
  433
  455
  477
  500
  525
  550
  577
  605
  635
  666
  699
  733
  769
Issuance/(repayment) of debt, $m
  30
  33
  35
  36
  38
  40
  41
  43
  45
  48
  50
  52
  55
  57
  60
  63
  66
  69
  73
  76
  80
  84
  88
  92
  97
  102
  107
  112
  118
  124
Issuance/(repurchase) of shares, $m
  39
  32
  25
  19
  12
  4
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  69
  65
  60
  55
  50
  44
  41
  43
  45
  48
  50
  52
  55
  57
  60
  63
  66
  69
  73
  76
  80
  84
  88
  92
  97
  102
  107
  112
  118
  124
Total cash flow (excl. dividends), $m
  310
  317
  322
  328
  334
  340
  350
  365
  380
  396
  359
  377
  396
  415
  435
  457
  479
  503
  527
  553
  580
  609
  638
  670
  702
  737
  773
  811
  851
  892
Retained Cash Flow (-), $m
  -153
  -159
  -166
  -174
  -182
  -190
  -199
  -209
  -218
  -229
  -240
  -251
  -263
  -276
  -289
  -303
  -318
  -334
  -350
  -367
  -385
  -404
  -424
  -445
  -467
  -490
  -514
  -540
  -567
  -595
Prev. year cash balance distribution, $m
  1,420
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  1,577
  158
  156
  154
  152
  150
  151
  156
  162
  167
  120
  126
  132
  139
  146
  153
  161
  169
  177
  186
  195
  204
  214
  225
  235
  247
  259
  271
  284
  298
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  1,512
  144
  136
  127
  118
  109
  102
  98
  93
  88
  57
  54
  50
  47
  43
  39
  35
  31
  27
  24
  20
  17
  14
  11
  9
  7
  6
  4
  3
  2
Current shareholders' claim on cash, %
  99.4
  99.0
  98.6
  98.4
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2
  98.2

Marvell Technology Group Ltd. is a semiconductor provider of application-specific standard products. The Company is engaged in the design, development and sale of integrated circuits. The Company develops System-on-a-Chip (SoC) devices. It also develops integrated hardware platforms along with software that incorporates digital computing technologies designed and configured to provide an optimized computing solution. Its product portfolio includes devices for storage, networking and connectivity. In storage, it is engaged in data storage controller solutions spanning consumer, mobile, desktop and enterprise markets. Its storage solutions enable customers to engineer products for hard disk drives and solid state drives. Its networking products address end markets in cloud, enterprise, small and medium business and service provider networks. The Company's connectivity products address end markets in consumer, enterprise, desktop, service provider networks and automotive.

FINANCIAL RATIOS  of  Marvell Technology Group (MRVL)

Valuation Ratios
P/E Ratio 367.5
Price to Sales 3.3
Price to Book 1.9
Price to Tangible Book
Price to Cash Flow -21.6
Price to Free Cash Flow -18.7
Growth Rates
Sales Growth Rate -12.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -1.8%
Cap. Spend. - 3 Yr. Gr. Rate -8.1%
Financial Strength
Quick Ratio NaN
Current Ratio 0.1
LT Debt to Equity 0%
Total Debt to Equity 0%
Interest Coverage 0
Management Effectiveness
Return On Assets 0.4%
Ret/ On Assets - 3 Yr. Avg. -2.1%
Return On Total Capital 0.5%
Ret/ On T. Cap. - 3 Yr. Avg. -2.7%
Return On Equity 0.5%
Return On Equity - 3 Yr. Avg. -2.7%
Asset Turnover 0.5
Profitability Ratios
Gross Margin 55.6%
Gross Margin - 3 Yr. Avg. 50.7%
EBITDA Margin 10.2%
EBITDA Margin - 3 Yr. Avg. 0.8%
Operating Margin 4.3%
Oper. Margin - 3 Yr. Avg. -4.1%
Pre-Tax Margin 5%
Pre-Tax Margin - 3 Yr. Avg. -3.5%
Net Profit Margin 0.9%
Net Profit Margin - 3 Yr. Avg. -5.9%
Effective Tax Rate 62.4%
Eff/ Tax Rate - 3 Yr. Avg. 20%
Payout Ratio 581%

MRVL stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the MRVL stock intrinsic value calculation we used $2409.17 million for the last fiscal year's total revenue generated by Marvell Technology Group. The default revenue input number comes from 0001 income statement of Marvell Technology Group. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our MRVL stock valuation model: a) initial revenue growth rate of 5.6% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for MRVL is calculated based on our internal credit rating of Marvell Technology Group, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Marvell Technology Group.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of MRVL stock the variable cost ratio is equal to 94.3%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for MRVL stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Marvell Technology Group.

Corporate tax rate of 27% is the nominal tax rate for Marvell Technology Group. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the MRVL stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for MRVL are equal to 50.7%.

Life of production assets of 25.5 years is the average useful life of capital assets used in Marvell Technology Group operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for MRVL is equal to 4.2%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $4141.413 million for Marvell Technology Group - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 655.279 million for Marvell Technology Group is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Marvell Technology Group at the current share price and the inputted number of shares is $10.0 billion.

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COMPANY NEWS

▶ Marvell Technology Tops Third-Quarter Earnings Expectations   [Dec-05-18 08:20AM  TheStreet.com]
▶ Marvell: Fiscal 3Q Earnings Snapshot   [04:16PM  Associated Press]
▶ Wallace Weitz's Top 5 Buys in 3rd Quarter   [Nov-19-18 05:12PM  GuruFocus.com]
▶ Is Marvell Tech an Undervalued Play?   [Nov-07-18 12:27PM  GuruFocus.com]
▶ Starboard Doubling Down on Semiconductor   [12:00PM  GuruFocus.com]
▶ 3 Battered Chip Stocks Ready To Rise 10%   [Oct-22-18 02:00PM  Investopedia]
▶ MarketPulse: Tech Stocks on a Tear   [Oct-16-18 05:30PM  Investing.com]
▶ Marvell Technology Group Ltd. To Host Investor Day   [Oct-11-18 05:00PM  PR Newswire]
▶ Marvell Offers Broad Portfolio of True Wi-Fi 6 Solutions   [Oct-03-18 09:00AM  PR Newswire]
▶ Symantec names three Starboard nominees to board   [Sep-17-18 05:45PM  Reuters]
▶ 3 Stocks to Watch on Friday   [Sep-07-18 03:22PM  GuruFocus.com]
▶ Marvell: Fiscal 2Q Earnings Snapshot   [04:29PM  Associated Press]
▶ Day Ahead: Top 3 Things to Watch   [Sep-05-18 07:39PM  Investing.com]
▶ Exclusive: Marvell cuts jobs following Cavium acquisition   [Aug-03-18 09:04AM  American City Business Journals]
▶ 10 Stocks to Play a Trillion-Dollar IOT Space   [Jul-24-18 02:41PM  InvestorPlace]
▶ 3 "Internet of Things" Stocks to Buy Right Now   [Jul-18-18 11:00AM  Zacks]
▶ 3 Reasons to Buy Marvell Technology Stock   [Jul-17-18 07:14PM  Motley Fool]
▶ Marvell Technology Completes Acquisition of Cavium   [Jul-06-18 09:07AM  PR Newswire]
▶ Marvell Merger News Bears Fruit for Options Players   [Jun-29-18 02:09PM  TheStreet.com]
▶ Why Shares of Cavium Inc. Popped Today   [04:13PM  Motley Fool]

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