Loop Capital Reiterates Buy Rating on Marvell

Loop Capital analyst Gary Mobley reiterated a Buy rating and $120.00 price target on Marvell Technology (NASDAQ: MRVL).

“Following better-than-expected results/guide, which mostly reflects upside to MRVL’s Data Center business, we reiterate our Buy rating and $120 PT.

In our view, the most important takeaways from results/guidance relates to: 1) a better-than-expected FY27 revenue outlook for Data Center revenue (expected to grow 40%+ vs. prior view of 25%; and 2) management reiterating strong 4Q26 (Jan) bookings first flagged at CES and signaling upside bias to the current FY27 framework (30%+ overall revenue growth and 40%+ Data Center growth); and 3) since CES, nearly every U.S. hyperscaler has outlined capex plans well above prior expectations, with U.S. hyperscaler capex now expected to rise 70%+ in 2026 to over $700B, and AWS (MRVL’s largest hyperscaler customer) increasing FY26 capex by 52% and more than 35% versus start-of-year expectations.”

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