Marvell (MRVL) PT Raised to $275 at Benchmark
Benchmark analyst Cody Acree raised the price target on Marvell (NASDAQ: MRVL) to $275.00 (from $130.00) while maintaining a Buy rating.
The analyst commented, "MRVL initially traded higher after hours as investors reacted to a materially higher multi-year AI infrastructure framework, then softened later in the session to roughly -3-4% as the market digested a mostly in-line 1Q print, a modest 2Q headline upside guide, and a stock that had already appreciated 26% over the past month, 126% over the past six months, and 134% over the past year. We would frame the move as valuation and expectations digestion rather than a negative readthrough on fundamental demand signals. The stronger message was the higher FY27/FY28 revenue path and the unusually detailed ramp commentary across interconnect, switching, custom silicon, AECs, retimers, DCI and scale-up optics. The central institutional debate is how much of Marvell's $16.5B FY28 revenue framework and FY29 custom-silicon target is already embedded in the share price, and how much value investors should assign to scale-up switching and newer optical programs that management still views as mostly in front of the model."