Marvell shares up 3% after Stifel hikes target to $210
MRVL•Marvell Technology shares rose 3% after Stifel raised its price target to $210 from $140, citing stronger-than-expected AI data center infrastructure demand. The brokerage forecasts April-quarter revenue above $2.40 billion and sees accelerating high-speed optical system deployments and cloud spending driving further upside into July.
1. Stifel Raises Price Target
Stifel raised its Marvell share target to $210 from $140, maintaining a Buy rating after projecting stronger AI data center networking demand. The brokerage highlighted improving visibility in optical interconnects and networking silicon as key catalysts.
2. Strong AI Data Center Trends
AI-driven infrastructure demand has picked up notably, with customers accelerating deployment of high-speed optical systems and custom chips. These trends underlie Stifel’s confidence in sustained sales momentum through fiscal 2027.
3. Revenue Projections
Stifel now expects Marvell’s April-quarter revenue to exceed $2.40 billion and anticipates further upside in the July quarter as cloud spending climbs. The firm’s models incorporate faster adoption of AI networking products and enhanced order visibility.
4. Growth Drivers and Risks
Longer-term growth is set to be driven by interconnect and custom silicon segments, with data center revenue projected to outpace previous estimates. Potential headwinds include supply constraints and broader semiconductor margin pressures.
