Marvell Technology Group Ltd. (MRVL) Price Target Raised

Analyst Craig Berger at FBR Capital Markets (NASDAQ: FBCM) has raised the price target for Marvell Technology Group Ltd. (NASDAQ: MRVL) from $24 to $25.

The company is scheduled to report fourth-quarter results on February 17, 2010. The company is expected to post better-than-expected results for the quarter.

FBR Capital Markets expects the revenue for the fourth-quarter to come at the high end of the guidance range provided by the company.

The company is one of FBR’s top pick to go long on as it expects the company to benefit from improving corporate PC demand in 2010, HDD share gain opportunities in 2010, and 2011, ramping TD-SCDMA baseband shipments into China, and combo chip growth.

FBR Capital Markets continues to rate Marvell Technology Group Ltd. as an Outperform, while raising the EPS estimate for 2010 from $1.40 to $1.45.