Marvell Technology Jumps 7% on $220 Target Lift, Congress Buys Shares
Marvell Technology shares surged 7.1% intraday as Evercore ISI raised its price target to $155 from $133 and Melius Research lifted its target to $220 from $140. Earlier this year several U.S. lawmakers acquired shares after the stock nearly doubled on accelerating AI chip demand.
1. Price Target Raises Drive 7.1% Rally
Marvell Technology shares jumped 7.10% intraday after Evercore ISI increased its price target to $155 from $133 while maintaining an Outperform rating, and Melius Research raised its target to $220 from $140. Both firms cited Marvell’s leadership in custom AI silicon for hyperscaler customers and its growing coherent optical and data center networking chips business as key drivers.
2. Congressional Buying Reflects Confidence
Several U.S. lawmakers purchased Marvell shares earlier this year as the stock nearly doubled in 2026. The buying points to strong institutional confidence in the company’s positioning within the accelerating AI infrastructure market, driven by demand for custom ASICs and networking solutions.