Barclays Adjusts Marvell Technology Price Target to $320 From $275

Marvell Technology (MRVL) raised its revenue forecasts, projecting $12B in fiscal 2027 and $20B in 2028, driven by AI data center demand. Analysts increased price targets following the announcement.

Marvell Technology (MRVL) shares dipped below $280 after briefly surpassing $300, following its Investor Day where it set a fiscal 2031 revenue target of $70B-$90B, up from $8.2B in fiscal 2026. Analysts raised price targets, with StoneX at $375 and KeyBanc at $400. The company expects $400B addressable market by 2030 and EPS over $30 at $80B revenue midpoint.

Wolfe Research raised its price target on Marvell Technology (MRVL) to $375 from $280, maintaining an Outperform rating. The stock is up 230% in the past year. Analysts cite strong AI-driven growth, with Marvell targeting $80B in revenue by fiscal 2031. Multiple firms have raised price targets, reflecting optimism about its long-term prospects.

Marvell Technology Inc. (MRVL) projected $70B-$90B in fiscal 2031 sales, with data center business expected to grow 55%-70% annually. Susquehanna raised its price target to $340. Management secured supplies for a $20B fiscal 2028 target, with gross margins estimated at 56%-59%.

Marvell Technology (MRVL) sees a $30B opportunity in custom AI chips, targeting $12B revenue by fiscal 2029. The company is already supplying custom silicon to major U.S. hyperscalers and expects growth in both XPU products and related components. Marvell's partnership with NVIDIA (NVDA) allows customers to customize parts of their systems while retaining NVIDIA technology.

Piper Sandler kept its Overweight rating on Marvell Technology (MRVL) with a $400 price target, implying a 39.4% upside. The firm raised its EPS estimates by 12% for FY28 and 60% for FY31, citing strong revenue growth projections and focus on high-demand segments. Recent analyst price targets for MRVL range from $350 to $400.