Vivek Arya, an analyst from Bank of America Securities, reiterated the Buy rating on Marvell (MRVL – Research Report). The associated price target remains the same with $150.00.
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Vivek Arya has given his Buy rating due to a combination of factors, primarily centered around Marvell’s advancements in AI technology and its strategic partnerships. The analyst anticipates improved financial performance in the upcoming quarters, driven by Marvell’s strong presence in AI optics and custom AI application-specific integrated circuits (ASICs), particularly with major cloud service providers like Amazon Web Services, Google, and Microsoft. Arya also highlights the company’s robust pipeline and execution capabilities, which are supported by increasing cloud capital expenditures and a fast-growing total addressable market (TAM) for AI.
Furthermore, Arya points to the potential for Marvell to capture a larger share of the AI accelerator market, projecting significant growth in both compute and optics segments. If Marvell can increase its market share in these areas, it could lead to substantial revenue gains over the next few years. The analyst also notes the upcoming Investor Day as a potential catalyst for further positive developments. Overall, these factors contribute to Arya’s optimistic outlook for Marvell’s stock, reflected in his price objective of $150.
According to TipRanks, Arya is a 5-star analyst with an average return of 17.2% and a 60.00% success rate. Arya covers the Technology sector, focusing on stocks such as Nvidia, Intel, and Marvell.
In another report released on February 11, Benchmark Co. also reiterated a Buy rating on the stock with a $135.00 price target.