This has been a pretty disappointing year for semiconductors in general, so criticism of underperformance at
Marvell Technology (Nasdaq:
MRVL)
ought to be tempered by that reality. Nevertheless, for a company that
needs to prove that it can build strength outside of its traditional
hard drive controller business, current trends are not encouraging.
Marvell does look undervalued, even based on moderate assumptions, so
there's potential here, but that potential is tempered by a risk of the
stock languishing due to a perceived lack of growth potential on the
Street.
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