Today's Stock Market Victim: Marvell Technology

Marvell Technology Group Ltd.  (Public, NASDAQ:MRVL) is no stranger to the Masters shopping list. The future guidance on every other stock reporting these days is making investors panic and sell into the recession feared market.  MRVL just reported a Q4 profit, and a 36% increase in revenue, and predicted sales of $775 million to $785 million for its fiscal 2009 fiscal first quarter.

The Analysts wanted sales of $763.9 million, so they beat the Street but some analysts said it was "still a substantial drop from its strong 2008 fourth-quarter sales of $844.7 million". Come on now, are we just going to throw every decent tech company to the curb?  Wham, down the ship goes to $10.35, but it has already recovered to $10.74 going into the final moments of Friday's trading:

So what to do?

The fear on Wall Street is just too much and it's taking it's pain out on Marvell today.

Yesterday and today the analysts covering the stock responded to the conference call with the following target price reductions, but kept their ratings:

March 6 (newratings.com) - Analysts at Kaufman Brothers reiterate their "hold" rating on Marvell Technology Group Ltd (MRVL). The target price has been reduced from $16 to $13.

March 6 (newratings.com) - Analysts at Kaufman Brothers reiterate their "hold" rating on Marvell Technology Group Ltd (MRVL). The target price has been reduced from $16 to $13.

March 7 (newratings.com) - Analysts at Lehman Brothers reiterate their "equal weight" rating on Marvell Technology Group Ltd (MRVL). The target price has been reduced from $15 to $14.

Fellow Masters, I know what you're thinking, why buy another damaged stock?  Don't then, let the stock take a beating then by next week make your move. This company isn't a fluke and neither was this latest earnings call, good things are ahead for Marvell.

Disclaimer: The Author does not own any positions in MRVL