What the analyst said
Stifel analyst Tore Svanberg reiterated a Buy rating and $120.00 price target on Marvell Technology (NASDAQ: MRVL).
“On Monday, March 16, 2026, Marvell (MRVL) and Lumentum (LITE) announced a joint demonstration at OFC 2026 (Marvell booth #1600).
The presentation will showcase the interoperability of MRVL’s optical connectivity solutions with LITE’s OCS to highlight low-latency, energyefficient network fabrics… In our view, the demonstration of 1.6T interoperability with LITE incrementally validates MRVL’s full-stack connectivity narrative.
Within racks, the integration of Celestial AI and XConn provides MRVL with a comprehensive scale-up portfolio to address bandwidth and power bottlenecks in next-generation AI clusters.
While back-end AI fabrics remain the primary focus, we believe DCI continues to be a vital component of infrastructure as hyperscalers link multiple sites to form gigawatt-scale campuses, with MRVL’s 1.6T ZR/ZR+ DCI modules expected to begin sampling later this year.
The 1.6T transition presents greater technical challenges than previous cycles, favoring systemlevel solutions that this joint demonstration aims to provide.”
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Where the price stands
MRVL trades at $155. The 24 analysts who set a target in the last 3 months range from $175 to $433, with a median of $300. This $120 target is 60% below the median, the lowest on the Street.
Since the note MRVL has moved +76% (from $87.86). 12-month window: day 238 of 365, closes on March 16, 2027.
Track record
This call✓ Target reached on April 10, 2026, 35 days after the note. Same target as this firm’s March 6, 2026 note, so it is scored there.
Firm track recordStifel: 83% of its 42 targets at least a year old were reached within 12 months (#6 of 26 firms). Accuracy ranking →
Stifel on Marvell
Stifel price targets on Marvell
8 calls from February 11, 2026 to June 2, 2026. The target went from $114 to $321 (+182%). The rating stayed Buy.
- June 2, 2026Target raised from $230 (+40%)Buy$321
- May 28, 2026Target raised from $210 (+10%)Buy$230
- May 22, 2026Target raised from $140 (+50%)Buy$210
- April 16, 2026Target raised from $120 (+17%)Buy$140
- March 16, 2026 This noteKept the $120 targetBuy$120
- March 6, 2026Target raised from $114 (+5%)Buy$120
- March 3, 2026Kept the $114 targetBuy$114
- February 11, 2026Earliest call shownBuy$114
Other analysts on Marvell
StoneXBuy
Kept rating and price targetReiterated · Nov 3
$375maintained
UBSBuy
Kept rating and price targetReiterated · Nov 3
$350maintained
Wells FargoBuy
Cut price target −22%, kept ratingCut target · Nov 3
$285from $365−22%
RBC CapitalBuy
Cut price target −41%, kept ratingCut target · Nov 3
$250from $425−41%
NeedhamBuy
Cut price target −25%, kept ratingCut target · Nov 3
$300from $400−25%