Marvell, the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Atif Malik from Citi maintained a Buy rating on the stock and has a $92.00 price target.
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Atif Malik has given his Buy rating due to a combination of factors that indicate strong future growth potential for Marvell. The company has recently announced a significant $5 billion stock repurchase program, which includes an accelerated share repurchase of $1 billion. This move reflects confidence in its financial health and future prospects. Additionally, Marvell is experiencing increased demand visibility in the data center sector extending into 2026, with promising opportunities in custom ASICs, 800G optics, and scale-up networking.
Furthermore, Marvell’s CEO, Matt Murphy, has expressed optimism about the company’s ASIC/AI outlook and connectivity business, anticipating double-digit growth in the data center business and a 10% growth in non-data center markets next year. The company does not foresee any revenue gaps in 2026 and expects accelerated growth into 2027, driven by new projects and emerging technologies. These factors, combined with the company’s strategic initiatives and positive market trends, underpin Malik’s Buy rating and the $92 target price.
In another report released on September 16, TD Cowen also maintained a Buy rating on the stock with a $90.00 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.