Marvell Technology (NASDAQ:MRVL) Stock Price Down 4.4% on Analyst Downgrade
Marvell Technology, Inc. (NASDAQ:MRVL – Get Free Report) shares were down 4.4% on Friday after Stifel Nicolaus lowered their price target on the stock from $130.00 to $115.00. Stifel Nicolaus currently has a buy rating on the stock.
Futures Slide as Marvell's Forecast Fails to Impress; Tariffs in Focus
U.S. stock index futures fell on Thursday as uncertainty about an ongoing global trade war clouded sentiment, while chip stocks took a beating after Marvell Technology's broadly in-line forecast fanned worries of slowing demand for AI infrastructure.
The stock of Marvell Technology (NASDAQ: MRVL) is getting hit with big sell-offs on Thursday following the company's recent earnings report. The semiconductor specialist's share price was down 17.
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