MRVL is not known for innovations -- it has always been a "me too" company. Let somebody else innovate, they copy the idea, make it cheap and make it high volume. Innovation, investing in R&D doesn't fit the cheap sweatshop business model. They just need more dedicated employees or NGC (non greencard chinese).
MRVL still has a shot if they can seriously copy QCOM and win some strategic accounts like HTC, Huawei & ZTE. At the right price, I still think it's a tradable stock, but not an investment.