Needham analyst Quinn Bolton maintained a Buy rating on Marvell today and set a price target of $120.00.
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Quinn Bolton has given his Buy rating due to a combination of factors including Marvell’s robust performance and strategic acquisitions. The company’s recent quarterly results slightly exceeded expectations, and its future guidance aligns well with market forecasts. A significant factor in this positive outlook is the enhanced projection for Marvell’s Data Center segment, which is anticipated to drive substantial revenue growth through interconnect and custom silicon solutions.
Additionally, the acquisition of Celestial AI is expected to contribute significantly to Marvell’s revenue in the coming years, with projections of reaching a $1 billion annualized run rate by the end of FY28. The visibility provided by purchase orders from a leading XPU customer further supports a seamless transition in their product offerings. These strategic moves and solid financial outlook have led to an increased price target, reflecting confidence in Marvell’s growth trajectory.
According to TipRanks, Bolton is a top 100 analyst with an average return of 28.7% and a 54.51% success rate. Bolton covers the Technology sector, focusing on stocks such as Lattice Semiconductor, Marvell, and Monolithic Power.
In another report released today, Deutsche Bank also maintained a Buy rating on the stock with a $125.00 price target.