Marvell Technology

Piper Sandler initiated coverage of Marvell with a $270 price target, citing the company's expanding role in AI data centers, custom accelerators, DSPs and co‑packaged optics. The initiation lifted MRVL about 5% midday, outpacing semiconductor peers and ETFs. Analysts flag the October 6 investor day as the next key catalyst to validate Marvell's $15 billion data‑center revenue outlook, while competition from Broadcom and sensitivity to AI capex pose risks. » Mere på finance.yahoo.com

CEO Matt Murphy announced higher targets: revenue of about 12 billion USD in 2026 (previously 10 billion), about 18 billion USD in 2027 (previously 13.5 billion); datacenter revenue is expected to exceed 15 billion USD next year. The announcement of new AI infrastructure products and an option agreement with Alphabet support the view. The stock has risen about 11.7% since September 1; analysts raised price targets; the consensus rating is "buy" with an average target of around 296 USD. » Mere på de.investing.com

At the Citi Global TMT Conference, Marvell outlined a deeper focus on AI and data-center infrastructure and raised its revenue guidance to $12 billion for FY27 and $18 billion for FY28 (combined $30 billion vs. $20 billion previously). The data-center business is expected to grow from $2.2 billion in 2023 to $15–16 billion next year, while the connectivity business will expand by more than 70%. Management expects operating margins of 38–40% by the end of FY28 but sees potential pressure on gross margins from increasing customer-specific ASICs; the company also secured capacity including $1 billion in advance payments. Marvell highlights opportunities in scale-up networking, optics (NPO/CPO), Teralynx switches and numerous design wins with hyperscalers, and sees the custom business growing to $10–11 billion by FY29. » Mere på de.investing.com