In a report released yesterday, Aaron Rakers from Wells Fargo maintained a Buy rating on Marvell (MRVL – Research Report), with a price target of $95.00.
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Aaron Rakers’s rating is based on Marvell’s strategic advancements and promising market potential. The company has significantly expanded its custom silicon design wins, securing 18 projects, including collaborations with top U.S. hyperscalers. This expansion highlights Marvell’s competitive edge in the custom AI sector and suggests a robust growth trajectory.
Additionally, Marvell’s increased datacenter total addressable market (TAM) projection to $94 billion by 2028, up from previous estimates, underscores its strong market positioning. The company’s confidence in capturing a 20% share of the custom XPU and XPU-attach markets by 2028 further supports the Buy rating, as it indicates potential for substantial revenue growth. Marvell’s comprehensive IP stack capabilities and its strategic focus on proprietary technology integration also contribute to its favorable long-term outlook.
Rakers covers the Technology sector, focusing on stocks such as Nvidia, Advanced Micro Devices, and Intel. According to TipRanks, Rakers has an average return of 21.7% and a 64.08% success rate on recommended stocks.