Needham analyst Quinn Bolton has maintained their bullish stance on MRVL stock, giving a Buy rating today.
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Quinn Bolton has given his Buy rating due to a combination of factors that reflect Marvell’s strategic positioning and growth potential. The company’s CEO, Matt Murphy, addressed investor concerns by confirming that there will be no revenue gap in their custom silicon business, particularly with AWS, which reassures stability in their revenue streams.
Additionally, Marvell is expected to see significant growth in its Data Center segment, aligning with the anticipated increase in hyperscaler capital expenditures. The optics segment is projected to surpass the general growth rate, while custom silicon and emerging sectors are also expected to experience substantial year-over-year growth. These factors, coupled with opportunities in scaling network connections, suggest that Marvell is well-positioned for future success, justifying the Buy rating and the increased price target of $95.
In another report released today, Oppenheimer also reiterated a Buy rating on the stock with a $95.00 price target.
Based on the recent corporate insider activity of 71 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MRVL in relation to earlier this year.