RBC Capital Marvell · MRVL

RBC Capital Raises Marvell Price Target to $115

Analyst: Srini Pajjuri 1 min read Reproduced verbatim
Rating
Outperform
Target
$115
from $105 (+10%)
Outcome
Reached
on April 9, 2026
RBC Capital and Marvell logos

What the analyst said

RBC Capital analyst Srini Pajjuri raised the price target on Marvell Technology (NASDAQ: MRVL) to $115.00 (from $105.00) while maintaining an Outperform rating.

“MRVL’s results/outlook were better than our recent expectations. Management now sees y/y growth accelerating through FY27, and is projecting 33%/37% growth in FY27/FY28 vs our 22%/33% expectation.

Optical momentum remains strong and should sustain through the year on 800G demand and 1.6T/ZR+ upgrade cycles.

While skepticism about MRVL’s XPU opportunity could continue, management sounded confident about custom business doubling in FY28 (driven by AWS/MSFT).

MRVL also has a diverse pipeline of new products including scale-up switches, co-packaged optics, and XPU-attached solutions, each representing multi-billion dollar SAM.

At 23x CY26 EPS, we believe risk/ reward is attractive. Reiterate Outperform.”

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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.

Where the price stands

MRVL trades at $134. The 24 analysts who set a target in the last 3 months range from $175 to $433, with a median of $300. This $115 target is 62% below the median, the lowest on the Street.

Since the note MRVL has moved +76% (from $75.68). 12-month window: day 244 of 365, closes on March 6, 2027.

Track record

This call✓ Target reached on April 9, 2026, 34 days after the note.

Firm track recordRBC Capital: 47% of its 17 targets at least a year old were reached within 12 months (#26 of 26 firms). Accuracy ranking →

Earnings reactionOne of 16 notes after Marvell’s Mar 5 results: 10 raised · 0 cut · 5 kept. See every call →

RBC Capital on Marvell

RBC Capital price targets on Marvell

8 calls from January 14, 2026 to November 3, 2026. The target went from $105 to $250 (+138%). The rating stayed Buy.

RBC Capital targetMRVL share price
  1. November 3, 2026Target cut from $425 (−41%)Buy$250
  2. October 7, 2026Target raised from $360 (+18%)Buy$425
  3. September 28, 2026Target raised from $200 (+80%)Buy$360
  4. May 14, 2026Target raised from $170 (+18%)Buy$200
  5. April 21, 2026Target raised from $115 (+48%)Buy$170
  6. April 1, 2026Kept the $115 targetBuy$115
  7. March 6, 2026 This noteTarget raised from $105 (+10%)Buy$115
  8. January 14, 2026Earliest call shownBuy$105
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Other analysts on Marvell

StoneXBuy Kept rating and price target Nov 3 $375maintained UBSBuy Kept rating and price target Nov 3 $350maintained Wells FargoBuy Cut price target −22%, kept rating Nov 3 $285from $365 NeedhamBuy Cut price target −25%, kept rating Nov 3 $300from $400 Bank of AmericaHold Downgraded, cut price target −44% Nov 3 $225from $400
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Price Target is an archive of Wall Street analyst research, published for informational purposes only. Nothing on this site is investment advice, a recommendation, or an offer to buy or sell any security. Analyst ratings and price targets are the opinions of the issuing firms, not of Price Target. Always do your own research or consult a licensed financial adviser.