Here are the key analyst insights:
Rosenblatt Securities analyst Kevin Cassidy reiterated a Buy rating, while raising the price target from $190 to $240.
BofA Securities analyst Vivek Arya maintained a Buy rating, and raised the price target from $200 to $240.
KeyBanc Capital Markets analyst John Vinh reaffirmed an Overweight rating, while taking the price target higher from $130 to $260.
Benchmark analyst Cody Acree reaffirmed a Buy rating, and raised the price target from $130 to $275.
Needham analyst Quinn Bolton reiterated a Buy rating, and raised the price target higher from $118 to $270.
JPMorgan analyst Harlan Sur reiterated an Overweight rating, and raised the price target from $135 to $240.
Check out other analyst stock ratings.
Rosenblatt Securities: Marvell's revenue grew 9% sequentially and 27.6% year-on-year to $2.42 billion, Cassidy said in a note. Non-GAAP gross margin contracted by 10 basis points (bps) sequentially and by 90 bps year-on-year to 58.9%, resulting in non-GAAP earnings of 80 cents per share, he added.
Management raised its revenue growth outlook for fiscal 2027 to more than 40%, and for fiscal 2028 to more than 45%, the analyst stated. He noted, however, that both the quarterly beat and the raised guidance were "somewhat muted," due to higher operating expenses, share dilution from the Celestial AI acquisition, and gross margin headwinds from the Custom AI ASIC ramp.
BofA Securities: Naming Marvell as the top pick in the sector, Arya ...
