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Leo Miller

Analysts Are Bullish on Marvell Stock Despite Amazon Deal Concern

Marvell Amazon AWS MarketBeat Microsoft

Unlike its big brother, Broadcom (NASDAQ: AVGO), custom chip maker Marvell Technology (NASDAQ: MRVL) has yet to participate much in the recent recovery among semiconductor stocks. This became even more true after the company’s latest earnings, which failed to inspire investors.

[content-module:CompanyOverview|NASDAQ:MRVL]

The day after the company’s results came out on May 29, Marvell's shares dropped by around 5.5%. Overall, Marvell shares are still down around 45% from the May 30 close, only recovering moderately from the -55% depths reached in early April. Meanwhile, the iShares Semiconductor ETF (NASDAQ: SOXX) is now down only around 5% compared to April lows of -28%.

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