Rosenblatt Securities raised its price target for Marvell Technology Inc. to $300 from $240, citing robust demand for AI-related chips and data center infrastructure.
The firm maintained a Buy rating on the stock, now trading near $230, as Marvell benefits from partnerships with hyperscalers including Microsoft and AWS. Rosenblatt’s $300 target implies a valuation of roughly 29 times its projected fiscal 2029 earnings, anchored by an estimated $10.50 in earnings power per share.
UBS similarly lifted its price target to $310, while Oppenheimer and BMO Capital both maintained Outperform ratings with $250 targets. Barclays kept its Overweight rating unchanged. The upgrades follow Marvell’s 215% share gain over the past 12 months, though the stock slipped 3.2% in recent trading to $229.46.
Analysts also highlighted sequential growth of more than 25% expected in optical interconnects, a key revenue driver for Marvell’s data center business. The company is scheduled to report second-quarter results after market close Thursday, with consensus estimates from Benchmark analyst Cody Acree projecting revenue of $2.709 billion and earnings per share of $0.93 for fiscal Q2 2027.
Marvell’s custom-silicon initiatives, including chips like Microsoft Maia and AWS Trainium, are ramping toward mass production in fiscal years 2028 and 2029. The firm’s investor day is set for early October, where management is expected to outline long-term growth targets amid rising chip development costs, now exceeding $500 million per design compared with $50 million a decade ago.
