Chipmaker Marvell Technology (MRVL) was rated a new "buy" (outperform) by a sell-side firm Wednesday. Semiconductor manufacturers have struggled in the past year so we need to check to see if the worst is behind them.
In our October 11 review of MRVL we wrote that "MRVL could experience a short-term bounce at any time but the trends in place suggest further declines in the weeks ahead. Our target is the $33-$29 area."
Let's check out the charts of MRVL again.