Marvell Technology Inc (NASDAQ:MRVL) shares are surging Wednesday after multiple analysts reiterated positive ratings following the company’s custom AI investor event.
What Happened: Marvell showcased its comprehensive technology platform that aims to enable the next generation of custom AI infrastructure at an event on Tuesday.
Following the presentation, several analysts reiterated Buy ratings. Here’s a look at the analyst updates that rolled in on Wednesday:
- BofA Securities analyst Vivek Arya maintained Marvell with a Buy and raised the price target from $80 to $90.
- Rosenblatt analyst Kevin Cassidy maintained Marvell with a Buy and a price target of $124.
- Benchmark analyst Cody Acree reiterated Marvell with a Buy rating and maintained a price target of $95.
- Needham analyst Quinn Bolton reiterated Marvell with a Buy and maintained a price target of $85.
Marvell highlighted an expanded opportunity with custom XPU attach and said it sees a 26% increased in its data center total addressable market over the coming years. The company now forecasts a data center TAM of $94 billion, up from $75 billion previously.
Marvell on Wednesday also announced a collaboration with Empower Semiconductor in which Empower will develop optimized integrated power solutions for Marvell custom silicon platforms. The companies aim to support the increasing demands of next-generation XPUs.
MRVL Price Action: Marvell Technology shares were up 6.94% at $74.85 at the time of publication Wednesday, according to Benzinga Pro.
Read Next:
Photo: JHVEPhoto/Shutterstock.
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
