Marvell price target raised to $95 from $60 at Roth MKM

Roth MKM raised the firm’s price target on Marvell to $95 from $60 and keeps a Buy rating on the shares after its Q4 results. The company guided revenue below consensus, reflecting continued weakness and inventory digestion in non-data center segments, but the firm is encouraged by the continued momentum in the data center segment around AI demand for optical and emerging customer semis, the analyst tells investors in a research note. Roth MKM added that it expects non-DC segments to recover beginning in the second half of FY25 and turn into a tailwind on top of continued strong momentum in DC/AI infrastructure.