Analyst Vivek Arya of Bank of America Securities maintained a Buy rating on Marvell (MRVL – Research Report), retaining the price target of $120.00.
Vivek Arya has given his Buy rating due to a combination of factors that highlight Marvell’s strong position in the AI and data center markets. The company’s management has expressed confidence in their ability to grow their data AI sales annually and increase their market share significantly. Additionally, Marvell’s execution capabilities are evident as consensus sales estimates for FY25/26 have been revised upwards, indicating positive growth prospects.
Furthermore, Marvell’s stock is considered attractive given its current valuation compared to historical medians, and upcoming events such as tradeshows and analyst days are expected to act as catalysts. Despite challenges in the custom chip industry, Marvell’s engagement with major cloud customers and its potential involvement in next-generation projects bolster its growth outlook. The company’s forecast of a substantial increase in its data center total addressable market and its strategic positioning against competitors further support the Buy rating.
According to TipRanks, Arya is a 5-star analyst with an average return of 11.5% and a 51.11% success rate. Arya covers the Technology sector, focusing on stocks such as Nvidia, Marvell, and Microchip.
In another report released on March 6, DBS also reiterated a Buy rating on the stock with a $130.00 price target.
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