Marvell Technology's F1Q12 Results Were "At the Low End of Guidance," Deutsche Bank Reports

Marvell Technology Group's (NASDAQ: MRVL) F1Q12 results were “at the low-end of guidance but we believe the focus will shift to the solid forward guidance,” Deutsche Bank reports.

“MRVL appears poised to benefit from investments in TD-SCDMA and SSD controllers as those markets see accelerating demand in F2Q12,” Deutsche Bank writes.

“Combined with share gains in Storage and our expectations for better PC seasonality suggest revenue growth will be sustainable through the rest of the year. On the back of prospects for revenue growth and high levels of cash generation we maintain our Buy rating and $22 P/T.”

Marvell Technology closed Thursday at $14.56.