William Blair analyst Sebastien Naji has maintained their bullish stance on MRVL stock, giving a Buy rating today.
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Sebastien Naji has given his Buy rating due to a combination of factors that highlight Marvell’s potential for future growth. Despite the mixed third-quarter guidance and limited visibility into its AI ASIC programs, Marvell’s management remains confident in achieving its long-term fiscal 2029 target. This target involves capturing a 20% share of a $94 billion market, translating to $19 billion in data center revenue, supported by a growing customer base and an expanding range of products.
While the immediate outlook may appear uncertain, Naji believes that patience will be rewarded as Marvell’s various programs begin to contribute to revenue growth over the next year. The company’s recent performance showed a significant year-over-year increase in revenue, particularly in the enterprise networking and consumer segments. Furthermore, despite the divestiture of its auto segment, Marvell’s guidance suggests a return to sequential growth in the fourth quarter, reinforcing the potential for long-term value creation.
Naji covers the Technology sector, focusing on stocks such as Arista Networks, Marvell, and Nvidia. According to TipRanks, Naji has an average return of 21.7% and a 76.19% success rate on recommended stocks.
In another report released today, Needham also maintained a Buy rating on the stock with a $80.00 price target.