Barclays Reiterates Equalweight Rating on Marvell (March 3)
Barclays analyst Tom O’Malley reiterated an Equalweight rating and $105.00 price target on Marvell Technology (NASDAQ: MRVL).
“Last month, MRVL announced the closure of the acquisitions of Celestial AI and XConn Technologies.
Celestial AI is an optical interconnect provider working on a Photonic Fabric for scale-up connectivity.
XConn Technologies is a provider of PCIe and CXL switching silicon… In aggregate, the acquisitions are expected to add ~$75M in annual opex, ~$50M in OIE, and ~30M shares.
Our new estimates: We revise our CY26 and CY27 estimates slightly higher with CY26 revenue at $10.20B (+25% Y/Y, vs. prior $10.18B), opex at $2.29B (vs. prior $2.22B), and CY26 EPS of $3.47 (vs. prior $3.69).
For CY27, we now estimate revenue at $13.78B (+35% Y/Y, vs. prior $13.50B), opex at $2.66B (vs. prior $2.58B), and EPS of $5.09 (vs. prior $5.24).”
The price target and rating on this page are the opinion of the issuing research firm and its analyst, not of Price Target. This page is published for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any security. Past performance does not guarantee future results. Consider your own circumstances and consult a licensed financial adviser before making investment decisions.
This research note is reproduced verbatim from the issuing firm. Price Target never edits, paraphrases or alters analysts’ words — we only republish them in one place.
