Marvell stock soars as strong AI demand yields earnings beat, strong guidance
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Deutsche Bank Reiterates Buy Rating on Marvell (MRVL)
December 4, 2024 9:53 AM ESTDeutsche Bank analyst Ross Seymore reiterated a Buy rating and $90.00 price target on Marvell (NASDAQ: MRVL).
The analyst comments "This morning, Marvell announced a five-year strategic partnership agreement with Amazon Web Services (AWS) aimed at driving innovation and improving efficiency in data center... More
Marvell (MRVL) PT Raised to $122 at CFRA
December 4, 2024 9:09 AM ESTCFRA analyst Angelo Zino raised the price target on Marvell (NASDAQ: MRVL) to $122.00 (from $108.00) while maintaining a Strong Buy rating.
The analyst comments "We boost our 12-month target to $122 from $108, on P/E of 35x our CY 26 EPS view, above... More
Marvell (MRVL) PT Raised to $115 at Goldman Sachs, 'continue to view Marvell as one of the key beneficiaries...'
December 4, 2024 7:16 AM ESTGoldman Sachs analyst Toshiya Hari raised the price target on Marvell (NASDAQ: MRVL) to $115.00 (from $87.00) while maintaining a Buy rating.
The analyst comments "Marvell delivered its second consecutive beat/raise as revenue growth in core Data Center, driven by strength in AI Custom Compute and Optics, continues to... More
Morgan Stanley Out Cautious on Marvell (MRVL): 'high valuation and 2026 market share risks keep us EW'
December 4, 2024 7:02 AM ESTMorgan Stanley analyst Joseph Moore raised the price target on Marvell (NASDAQ: MRVL) to $102.00 (from $82.00) while maintaining a Equalweight rating.
The analyst comments "Thoughts on the stock: We like the narrative here, but the stock trades at a very rich multiple on forward P/E, especially including stock compensation. For the last several... More
Marvell (MRVL) PT Raised to $125 at BofA Securities
December 4, 2024 7:01 AM ESTBofA Securities analyst Vivek Arya raised the price target on Marvell (NASDAQ: MRVL) to $125.00 (from $108.00) while maintaining a Buy rating.
The analyst comments "We reiterate our Buy rating on Marvell Technology (MRVL), as we believe it presents a unique investment (75%+ data center... More
Marvell (MRVL) PT Raised to $130 at Wolfe Research
December 4, 2024 7:00 AM ESTWolfe Research analyst Chris Caso raised the price target on Marvell (NASDAQ: MRVL) to $130.00 (from $90.00) while maintaining a Outperform rating.
The analyst comments "Reiterate Outperform rating, $130 price target. Our $130 price target is based on ~38x our CY26 (FY27) EPS estimate of... More
Marvell (MRVL) PT Raised to $125 at Stifel
December 4, 2024 6:59 AM ESTStifel analyst Tore Svanberg raised the price target on Marvell (NASDAQ: MRVL) to $125.00 (from $114.00) while maintaining a Buy rating.
The analyst comments "Oct Q results at high-end of guidance (revs +4.6%, NG EPS +$0.03 vs. our est.). DC/AI revs grew +25% q/q on... More
Marvell (MRVL) PT Raised to $140 at Rosenblatt
December 4, 2024 6:58 AM ESTRosenblatt analyst Hans Mosesmann raised the price target on Marvell (NASDAQ: MRVL) to $140.00 (from $120.00) while maintaining a Buy rating.
The analyst comments "Marvell delivered a meaningful beat and raise last night for its October quarter earnings driven by a step-up in DC/AI demand (custom ASIC, networking and electro optics). Management indicated... More
Marvell (MRVL) PT Raised to $130 at JPMorgan
December 4, 2024 5:21 AM ESTJPMorgan analyst Harlan Sur raised the price target on Marvell (NASDAQ: MRVL) to $130.00 (from $90.00) while maintaining a Overweight rating.
The analyst comments "As we had previewed (see note here), Marvell delivered better-than-expected Oct-Qtr results on accelerating growth in its Datacenter business led by the sharp step up in production shipments of its AI ASICs at Amazon (Trainium 2 AI processor) and Google (Axion CPU processor), continued strong demand for AI optical DSPs (800G and start of 1.6T ramp) and the start of Q/Q recovery in its cyclical segments. Off of a higher... More
Marvell (MRVL) PT Raised to $120 at Raymond James
December 4, 2024 5:13 AM ESTRaymond James analyst Srini Pajjuri raised the price target on Marvell (NASDAQ: MRVL) to $120.00 (from $90.00) while maintaining a Outperform rating.
The analyst comments "MRVLs F3Q results and F4Q outlook were both solid and were ahead of our recent expectations.... More
Marvell (MRVL) PT Raised to $112 at Citi
December 4, 2024 5:09 AM ESTCiti analyst Atif Malik raised the price target on Marvell (NASDAQ: MRVL) to $112.00 (from $91.00) while maintaining a Buy rating.
The analyst comments "MRVL posted strong beat and raise results as it hit an inflection point in sales of custom compute AI chips (Trainium2 for... More
