Marvell (NASDAQ:MRVL) Cash Flow, Margin Leverage Solid

Although Marvell (NASDAQ:MRVL) it tracking close to expectations, Barclays (NYSE:BCS) sees them having strong margin leverage and cash flow.

Barclays said, "Following meetings with Marvell management, we believe Marvell is tracking broadly in line with expectations for F1Q with potentially firmer-than-seasonal 1Q given PCs bottoming. While investors may look to closely monitor outlook for broadening of cellular customer base and combo traction, we remain impressed with solid cash flow & margin leverage and with valuation offering solid support, we move PT higher."

Barclays maintains an "Equalweight" rating on Marvell, which closed at $19.15 on Monday, down $0.41, or 2.09 percent. They raised their price target on Marvell to $22.