KeyBanc Reiterates Overweight Rating on Marvell (MRVL)

KeyBanc analyst John Vinh reiterated an Overweight rating and $95.00 price target on Marvell (NASDAQ: MRVL).

The analyst commented, "MRVL reported F2Q results and provided F3Q guidance, which were above expectations, with upside driven by Data Center, as strength in optical networking and the ramp of AI custom silicon (GOOGL/AWS) contributed. Additionally, MRVL noted both Carrier/Enterprise Networking have bottomed and are expected to grow in F3Q. Accordingly, mgt indicated it expects to exceed this year's FY25 (Jan) and next year's FY26 (Jan) AI targets of $1.5B/$2.5B, respectively. GM are expected to remain at ~61% as lower GM AI custom silicon is offset by a recovery in core merchant. We're encouraged by these results and are adjusting estimates. Remain Overweight."

For an analyst ratings summary and ratings history on Marvell click here. For more ratings news on Marvell click here.

Shares of Marvell closed at $69.84 yesterday.

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