Marvell (MRVL) PT Lowered to $275 at B.Riley

B.Riley analyst Craig Ellis lowered the price target on Marvell (NASDAQ: MRVL) to $275.00 (from $365.00) while maintaining a Buy rating.

The analyst comments "Stock Thoughts: Marvell shares are trading down nearly 7% as investors try to balance how the expanded portfolio under Lumentum weighs against dilution and integration risk (following a steep dip in shares last week). At these levels, MRVL trades at 24 times our calendar 2027 EPS estimate and 13 times our calendar 2028 estimate. While we continue to see Marvell as well positioned to capture a growing share of AI spend—across ramping-up XPU programs, a widening XPU-attach funnel, and interconnect growth across all domains—we expect the pending Lumentum acquisition to be the focus on investor concerns over the coming quarters. We maintain our Outperform rating."

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