What the analyst said

HSBC analyst Frank Lee upgraded Marvell Technology (NASDAQ: MRVL) from Hold to Buy with a price target of $300.00 (from $85.00).

“Upgrade to Buy (from Hold) with revised TP of USD300 (from USD85) as we roll forward to FY28e: We raise our FY27e/FY28e EPS by 21%/61% to USD4.07/USD7.12 due to our bullish optical interconnect revenue estimates, and CXL portfolio-driven ASIC revenue estimates.

We introduce our FY29 estimates in this note. We raise our TP to USD300 (from USD85) applying our FY28 target PE of 42x (rolled forward from FY27e of 26x) to our FY28e EPS of USD7.12.

With c53% implied upside, we upgrade to Buy. We believe the optical interconnect strength and CXL revenue opportunity remain undervalued and can drive upside earnings surprises.”

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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 $300 target is in line with the median.

Since the note MRVL has moved −32% (from $196). 12-month window: day 163 of 365, closes on May 26, 2027.

Track record

This call✓ Target reached on June 3, 2026, 8 days after the note.

Firm track recordHSBC: 60% of its 20 targets at least a year old were reached within 12 months (#24 of 26 firms). Accuracy ranking →

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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 RBC CapitalBuy Cut price target −41%, kept rating Nov 3 $250from $425 NeedhamBuy Cut price target −25%, kept rating Nov 3 $300from $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.