Marvell Technology Group’s Promising Growth Prospects and Strategic Partnerships Justify Buy Rating

Quinn Bolton, an analyst from Needham, maintained the Buy rating on Marvell (MRVL – Research Report). The associated price target was lowered to $85.00.

Quinn Bolton has given his Buy rating due to a combination of factors that highlight Marvell Technology Group’s promising growth prospects. One of the primary reasons is the company’s strong performance in the Data Center sector, which has exceeded expectations and continues to expand. Additionally, Marvell’s management has expressed confidence in their strategic partnership with a major customer, AMZN, securing advanced technological capabilities for future projects.
Furthermore, Marvell is poised for consistent revenue growth, particularly in the Data Center segment, as well as in other recovering areas such as CI and EN. The company’s gross margin is expected to remain stable, supported by the growth of custom silicon. Despite a reduction in the 12-month price target to $85, reflecting broader sector trends, the overall outlook for Marvell remains positive, justifying the Buy rating.

In another report released today, KeyBanc also maintained a Buy rating on the stock with a $90.00 price target.

Based on the recent corporate insider activity of 82 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MRVL in relation to earlier this year.