Marvell Technology Inc shares climbed 3.6% during morning trading on Monday, recovering from a sharp decline on Friday. The stock traded at $236.03 after opening at $240.29 and reaching a session high of $242.48.

The gains came as optical communications and AI semiconductor stocks recovered across the sector. GF Securities analyst Jeff Pu released a note on Friday after attending the OCP Global Summit in San Jose the previous week. Pu stated that the recent decline in semiconductor stocks created a buying opportunity in quality companies.

The analyst highlighted Marvell's data signal processor business and its growing relationship with Google's custom silicon operations. Pu also pointed to the expected production increase of Microsoft's next-generation Maia 300 XPUs.

Stifel maintains a Buy rating on Marvell with a $370 price target. The firm identified the Maia 300 XPUs as a major revenue opportunity for Marvell in fiscal year 2028.

A Form 4 filing dated October 18 showed insider activity at the company. Recent executive share sales were conducted under pre-arranged Rule 10b5-1 plans.