Analyst Christopher Rolland from Susquehanna reiterated a Buy rating on Marvell (MRVL – Research Report) and keeping the price target at $140.00.
Christopher Rolland has given his Buy rating due to a combination of factors related to Marvell’s promising growth prospects and market opportunities. The company is expected to benefit significantly from the growing demand for AI and custom ASIC products, driven by robust hyperscale capital expenditure plans. This is further supported by the anticipated increase in spending by major hyperscalers, which bodes well for Marvell’s Inphi PAM4 DSPs and custom ASIC/AI products.
Additionally, Marvell’s recent advancements in technology, such as the introduction of their 5nm and 3nm DSPs, are expected to provide significant power advantages and drive further growth. The company also sees potential in Carrier Infrastructure and Enterprise Networking, with positive indicators from industry leaders like Nokia and Samsung. Despite some near-term pressure on gross margins due to the custom silicon mix, the overall outlook remains positive, with continued momentum expected in key areas such as Inphi and ASICs.
In another report released today, Oppenheimer also reiterated a Buy rating on the stock with a $125.00 price target.
Based on the recent corporate insider activity of 79 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MRVL in relation to earlier this year.