Research firm Barclays views semiconductor stocks Nvidia (NVDA), Marvell Technology (MRVL), and Broadcom (AVGO) as super beneficiaries of the ongoing AI (artificial intelligence) boom. Five-star analyst Thomas O’Malley lifted the price targets on all three tech stocks while keeping his Buy view on them as part of his 2025 outlook for the semiconductors and semiconductor capital equipment sector. The analyst continues to see a greater divide between the “haves and have-nots” this year.
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Overall, O’Malley expects the AI semiconductor market to enter into a $1 trillion TAM (total addressable market) space by 2030, with room for exponential growth for all three players in their respective specializations. Nvidia remains the dominant force in the AI chip space, the analyst added. Having said that, O’Malley sees a growing demand for cheaper, customizable, and high-efficiency chips, which could bode very well for Marvell and Broadcom. Let’s understand O’Malley’s views on these three stocks.
Is it Too Late to Invest in Nvidia?
Nvidia is still the king, O’Malley says. The analyst remains highly optimistic about a revenue boost from Nvidia’s Blackwell product shipments and the upcoming Hopper line of products. He raised NVDA stock’s price target to $175 from $160, implying 27.1% upside potential from current levels. O’Malley expects Nvidia’s GPU (graphic processing units) sales to jump to $160 billion in 2025, after hitting $100 billion in 2024.
Several analysts share the same enthusiasm about Nvidia stock on TipRanks. NVDA stock commands a Strong Buy consensus rating based on 36 Buys versus three Hold ratings. Also, the average Nvidia price target of $176.86 implies 28.4% upside potential from current levels. Shares have already gained 130.9% over the past year.
Is MRVL a Strong Buy?
O’Malley has grown highly bullish about Marvell stock’s trajectory, lifting its price target to a new Street high of $150 (20.2% upside) from $115. The analyst says that Marvell’s ASIC (application-specific integrated circuit) revenue could hit $4 billion in 2026, thanks to the burgeoning demand for custom silicon chips. The analyst is encouraged by Marvell’s proprietary serializer/deserializer tech, which could fuel the demand for ASIC and boost the stock price.
On TipRanks, MRVL stock commands a Strong Buy consensus rating, backed by 26 Buys and two Hold ratings. The average Marvell Technology price target of $127.81 implies 2.4% upside potential from current levels. Meanwhile, MRVL shares have gained 78.5% in the past year.
Is Broadcom a Good Stock to Buy Now?
O’Malley also raised the price target on Broadcom stock to $260 from $205, implying 9.5% upside potential from current levels. The analyst feels that Broadcom remains underappreciated in the AI realm as he forecasts the company to earn $21 billion from AI-related chip sales in 2026. The custom silicon market is expected to have a 55% annual growth, he added, making room for every player.
Overall, AVGO stock earns a Strong Buy consensus rating on TipRanks. This is based on 23 Buys and three Hold ratings. The average Broadcom price target of $237.60 implies that shares are almost fully valued at current levels. Meanwhile, Broadcom shares have gained a massive 97.2% in the past year.
