Marvell is doomed to rally ?

Mrvl has steadily corrected its problem with SEC, and with his production line and sale of iphone, this guy should be able to catch the late run of market.

Marvell Tech late Monday filed its fiscal 2007 annual report and several other quarterly securities reports that had been delayed as the chipmaker restated its historical financial results. The company still must file its 10-Q for the first quarter ended April 28 with the Securities and Exchange Commission. It said it plans to do that as soon as possible.
As expected, Marvell Tech (MRVL :
marvell technology group ltd ord
N booked a noncash stock compensation charge of $327.4 million.
The filings helped eased the concerns of investors. Marvell Tech shares rose 1% to $18.32 in trading Tuesday. The stock is down 4% so far this year.
"We believe the much-delayed financial restatement is a big step toward helping investors finally move on," wrote Stifel Nicolaus analyst Cody Acree, who rates the stock a buy.
Based in Santa Clara, Calif., Marvell Tech designs chips used in hard disk drives, mobile phones, Wi-Fi functional electronics and Internet networking gear.
Its largest customers are Western Digital Corp. (WDC :
Western Digital Corporation
Toshiba Corp. , and Samsung Electronics Co. (SSNGY :
SSNGY
which account for 39% of Marvell Tech's total revenue.
The restated financial statements did raise some concerns.
Craig Berger, analyst at Wedbush Morgan Securities, said Marvell Tech's annual results were "a bit worse" than he had estimated in terms of gross margin and operating expenses, excluding stock-based compensation costs. He reiterated his hold rating on the stock.
Marvell Tech is one of the chipmakers tapped by Apple Inc. for its new iPhone. The company is contributing the Wi-Fi chip that costs $6. End of Story