RBC Capital Marvell · MRVL

RBC Capital Reiterates Outperform Rating on Marvell

Analyst: Srini Pajjuri 1 min read Reproduced verbatim
Rating
Outperform
Unchanged
Target
$115
Unchanged
Outcome
Reached
on April 9, 2026
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What the analyst said

RBC Capital analyst Srini Pajjuri reiterated an Outperform rating and $115.00 price target on Marvell Technology (NASDAQ: MRVL).

“We view NVDA’s $2b investment favorably as it should solidify MRVL’s strong presence in scale out and scale up optical connectivity markets, strengthen its XPU franchise, and expand SAM through NVLink Fusion & Telecom/Edge markets.

While the equity investment is a surprise, we view it as a validation of MRVL’s connectivity leadership and custom silicon capabilities.

We are leaving our estimates unchanged but see room for upside to FY28 from the partnership. Reiterate Outperform.”

Disclaimer
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.

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 +35% (from $99.05). 12-month window: day 218 of 365, closes on April 1, 2027.

Track record

This call✓ Target reached on April 9, 2026, 34 days after the note. Same target as this firm’s March 6, 2026 note, so it is scored there.

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 →

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, 2026 This noteKept the $115 targetBuy$115
  7. March 6, 2026Target 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.