On Friday, in the course of current trade, Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL), dropped -0.07%, and is now trading at $14.19.
Marvell Technology Group, was upgraded to “overweight” from “equal weight” by analysts’ at Morgan Stanley (MS) on Tuesday.
The firm also raised the company’s price target to $17.50 from $15, representing a potential upside of 32% from the stock’s current price.
The upgrade comes after Friday’s sell off of the company’s stock as the company stated a 52% year over year decline in earnings to 13 cents per share on revenue that also fell 24% to $724 million.
Marvell Technology Group Ltd. designs, develops, and markets analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers mobile and wireless products comprising communications and applications processors; thin modems; and connectivity solutions, counting Wi-Fi, Bluetooth, near field communication, and FM; and mobile computing products, in addition to silicon solutions and Kinoma software.
In an opening trade, Shares of Gilead Sciences Inc. (NASDAQ:GILD), gained 0.07%, and is now trading at $112.93.
Gilead Sciences, declared that the company’s Marketing Authorization Application (MAA) for two doses of an investigational fixed-dose combination of emtricitabine and tenofovir alafenamide (200/10 mg and 200/25 mg) (F/TAF) has been fully validated and is now under evaluation by the European Medicines Agency (EMA). The data comprised of in the application support the use of F/TAF for the treatment of HIV-1 infection in adults in combination with other HIV antiretroviral agents.
TAF is a novel investigational nucleotide reverse transcriptase inhibitor (NRTI) that has demonstrated high antiviral efficacy at a dose less than one-tenth that of Gilead’s Viread® (tenofovir disoproxil fumarate, TDF), in addition to improved renal and bone laboratory parameters as contrast to TDF in clinical trials.
Gilead Sciences, Inc., a biopharmaceutical company, discovers, develops, and commercializes medicines in areas of unmet medical nee in North America, South America, Europe, and the Asia-Pacific.
Shares of Integrated Device Technology, Inc. (NASDAQ:IDTI), during its Friday’s current trading session gained 0.95%, and is now trading at $23.84.
Integrated Device Technology, declared that smartphone maker LG integrated an IDT wireless power receiver into its flagship G4 model. LG’s new G4 has IDT’s P9025A chip built into the motherboard, delivering compact size and a simplified application circuit. LG chose IDT as the sole-source vendor for the wireless charging capabilities in its latest state-of-the-art portable device. LG formerly chose an IDT chip to deliver wireless charging in the preceding generation G3 smartphone.
Part of IDT’s industry-leading wireless power portfolio, the P9025A is a fully integrated, single-chip wireless power receiver that can support PMA, Qi or dual-mode charging. It utilizes a high-efficiency low-dropout regulator (LDO)-based architecture to minimize component count. In addition, its optimized control logic minimizes power losses to ensure efficient power delivery to the load. The space- and cost-optimized wireless power receivers are ideal for wireless handsets, cell phone sleeves, and tablets.
Integrated Device Technology, Inc. designs, develops, manufactures, and markets a range of mixed signal semiconductor solutions for the communications, computing, and consumer industries worldwide. It operates in two segments, Communications, and Computing and Consumer.
Finally, Alcatel-Lucent (NYSE:ALU), gained 0.76% Friday.
Alcatel-Lucent, has recently launched PSTN Smart Transform, a solution that will enable communications providers to transition their existing voice services from ‘legacy’ PSTN (public switched telephone network) technology to more cost-effective all-IP ultra-broadband infrastructure.
Communications providers are facing noteworthy challenges in serving more than 700 million people and businesses around the world which still rely on ‘plain old telephone service.’ Many operators rely on these PSTN networks for large revenue streams. However, these legacy networks are becoming cost-prohibitive to operate and maintain because of aging, energy-inefficient equipment requiring extensive real estate footprints, in addition to through the loss of skilled PSTN technicians.
Furthermore, PSTN networks represent additional cost for communications providers operating IP-based networks in parallel for voice services. While many service providers are exploring ways to decommission PSTN and migrate to all-IP networks, the process is highly complex and can cause further revenue erosion if customers experience service issues.
Alcatel-Lucent provides Internet protocol (IP) and cloud networking, and ultra- broadband access worldwide. The company’s Core Networking segment offers IP routing, carrier Ethernet, network functions virtualization, and software defined networking applications and infrastructure to meet the challenges of network traffic growth while supporting the delivery of cloud-enabled business, mobile, and residential services for service providers, mobile network operators, cable/multiple system operators, transportation, utilities, and large-scale enterprises.
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