In the most recent trading session, Marvell Technology (MRVL) closed at $90.70, indicating a +0.7% shift from the previous trading day.
MRVL's 30% surge reflects its AI strength and data center growth, but export risks and valuation suggest holding the stock for now.
Recently, Zacks.com users have been paying close attention to Marvell (MRVL). This makes it worthwhile to examine what the stock has in store.
The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.
Loop Capital initiated coverage of Marvell (MRVL) with a Hold rating and $95 price target. The company is clearly a beneficiary from the investments cloud service providers are making into high-performance general-purpose computing as well as accelerated computing for AI training and inference, but with shares trading at about 45.0 times next 12 months' earnings - a notable premium even to Nvidia (NVDA) - shares look "appropriately valued", the analyst tells investors in a research note. Marvell -1.52 (-1.62%) Nvidia -2.39 (-1.62%)
Loop Capital analyst Gary Mobley initiated coverage of Marvell with a Hold rating and $95 price target.
In the latest trading session, Marvell Technology (MRVL) closed at $93.80, marking a -0.15% move from the previous day.
Marvell's stock has risen 18% since my last recommendation in July, driven by growth in the AI infrastructure market. The company aims to capture 20% of the $40 billion custom AI chip market, with significant growth expected in 2025. A recovery in its non-AI segments should help boost revenue growth.
Marvell Technology's strong Q2 results and ambitious AI revenue targets signal significant growth potential, driven by robust demand in the data center infrastructure market. MRVL has secured key hyperscaler customers and expects to achieve $1.5 billion in AI revenue, with a strong ramp in custom AI chip business. Management's confidence and customer demand, particularly from Amazon, indicate Marvell's AI revenue targets are conservative, suggesting potential for upward revisions.
Marvell Technology (MRVL) closed at $84.38 in the latest trading session, marking a -0.46% move from the prior day.
Recently, Zacks.com users have been paying close attention to Marvell (MRVL). This makes it worthwhile to examine what the stock has in store.
The latest trading day saw Marvell Technology (MRVL) settling at $84.87, representing a +1.71% change from its previous close.