William Blair analyst Sebastien Naji has maintained their bullish stance on MRVL stock, giving a Buy rating today.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Sebastien Naji has given his Buy rating due to a combination of factors that highlight Marvell’s strong financial performance and promising future prospects. The company reported better-than-expected results in its third fiscal quarter, with revenue increasing by 37% year-over-year, surpassing consensus estimates. This growth was driven by robust performance in data center revenues, particularly in interconnects, switching, and storage, despite a decline in ASICs revenue due to a customer transition.
Moreover, Marvell’s management has set ambitious multiyear growth targets, projecting significant revenue increases in fiscal 2027 and 2028. The company anticipates a substantial ramp-up in its next-generation ASIC programs and continued strength in its optical interconnect business, which are expected to drive at least 25% growth in data center revenues by fiscal 2027. These factors contribute to a favorable risk/reward scenario, supporting Naji’s Buy rating on Marvell’s stock.
According to TipRanks, Naji is a 3-star analyst with an average return of 7.6% and a 52.63% success rate. Naji covers the Technology sector, focusing on stocks such as Nvidia, Oracle, and Credo Technology Group Holding Ltd.
In another report released today, J.P. Morgan also reiterated a Buy rating on the stock with a $130.00 price target.