Bank of America Securities analyst Vivek Arya reiterated a Hold rating on Marvell yesterday and set a price target of $88.00.
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Vivek Arya has given his Hold rating due to a combination of factors that balance optimism with caution. The CEO’s confident outlook and increased stock buybacks have improved the company’s prospects for fiscal years 2027 and 2028, aligning sales growth estimates more closely with consensus. However, the AI business is expected to grow slower than its peers, and the flagship Amazon customer business has shown flat performance quarter-over-quarter.
Additionally, while there is a new project with Microsoft, it involves a customer with limited history in scaling large accelerator ASICs, and there is significant competition from existing GPU deployments. The stock is also sensitive to competitive pressures from Taiwan-based companies. Despite improved visibility in data center growth and a substantial stock repurchase program, there are risks related to limited EPS revisions and uncertainties in large custom silicon projects with AWS and Microsoft.
In another report released on September 18, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $75.00 price target.
MRVL’s price has also changed moderately for the past six months – from $72.760 to $80.090, which is a 10.07% increase.