J.P. Morgan analyst Harlan Sur has maintained their bullish stance on MRVL stock, giving a Buy rating yesterday.
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Harlan Sur has given his Buy rating due to a combination of factors that highlight Marvell’s strong position in the custom chip market, particularly in its partnerships with major tech companies like Microsoft and Amazon. Marvell’s leadership in the ASIC market, especially in AI XPU engagements, is a significant driver of its growth prospects. Despite market speculation about potential share loss, Sur’s extensive research indicates that Marvell’s programs with Microsoft and Amazon are progressing well, with no current or next-generation AI XPU ASIC programs at risk.
Marvell’s ongoing projects, such as the Microsoft Maia 3nm AI XPU program and the Amazon Trainium 3 AI XPU program, are on track for significant growth in the coming years. The company’s ability to manage complex designs and its strong IP portfolio are key differentiators that support its competitive edge. Furthermore, Marvell’s active engagement in next-generation ASIC programs and its collaborations with ecosystem partners underscore its robust growth outlook, justifying the Buy rating.
In another report released yesterday, Citi also maintained a Buy rating on the stock with a $114.00 price target.
Based on the recent corporate insider activity of 67 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MRVL in relation to earlier this year.