As previously reported, BofA downgraded Marvell (MRVL) to Neutral from Buy with a price target of $78, down from $90. The firm did not hear the same level of confidence and visibility about Marvell’s AI growth prospects in the near-to-medium term and senses incrementally higher uncertainty around both the timing of Marvell’s new Microsoft (MSFT) Maia project and share in next-gen 3nm Amazon (AMZN) project, the analyst tells investors. The firm, which lowers its calendar year 2026 data center growth forecast to mid-teens from 23%-25% year-over-year previously projected, cut its FY27 and FY28 pro-forma EPS estimates by 10% and 14%, respectively.
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Read More on MRVL:
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