#Ati tool changer stock upgrade#
Marvell’s report sparked at least one upgrade from a research analyst: Cowen & Co.’s Karl Ackerman, who lifted his rating on Marvell’s stock to outperform from market perform. Subscribe: Want intel on all the news moving markets? Sign up for our daily Need to Know newsletter. “Marvell just pulled an ‘Nvidia’ on the Street last night, with an unambiguous beat and raise and taking FY23 sales growth to over 30%,” Rosenblatt Securities analyst Hans Mosesmann wrote. Klein wasn’t alone in likening Marvell to a red-hot chip stock. The current FactSet EPS consensus is $1.54 for the current fiscal year, and is $2.20 for next year.
#Ati tool changer stock full#
The company has a “clear line of sight given a backlog full of design wins that has basically locked in that growth rate” on the revenue line, he said in his note. He argued, amid the company’s cheery growth projections and likely expectations among the bull camp for $4 a share in annual earnings power within a few years. Marvell “will be in the same camp now” as Advanced Micro Devices Inc.
“In fact, it was a GAME-CHANGER for investors and in my view squarely positions Marvell as a best-in-class GROWTH SEMI into CY22,” he continued. The company’s earnings call could have been “one of the best (if not the best) semi conf calls I have listened to in quite some time,” wrote Mizuho desk-based analyst Jordan Klein in a note affiliated with Mizuho’s sales operations and not its research team.
Chief Financial Officer Jean Hu said on the earnings call late Thursday that she expects “continued strong demand across our end markets and improvement in supply to drive our top line revenue growth above 30% in fiscal 2023.” That projection generated enthusiasm, as did Marvell’s January-quarter revenue forecast that implied upwards of 60% growth.
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