Needham Raises Marvell Price Target to $270
Needham analyst N.
Quinn Bolton raised the price target on Marvell Technology (NASDAQ: MRVL) to $270.00 (from $118.00) while maintaining a Buy rating.
“Marvell reported F1Q27 results slightly ahead of our expectations and issued guidance above estimates.
Our key takeaways include: 1) Management now expects FY27 total revenue up +40% Y/Y, with FY28 revenue accelerating to +45% Y/Y, driven by continued strength in interconnect and custom silicon; 2) MRVL’s custom silicon revenue is forecast to grow >20% Y/Y in FY27 driven by both existing and new wins; 3) The scale-up optics business is now expected to increase >$300MM in FY28 (vs. prior outlook of $150MM), driven by both organic and Celestial AI growth; and 4) Interconnect is expected to grow >+70% Y/Y (vs. prior expectation of +50%).
Management cited CPU growth as a tailwind, specifically across NICs, PCIe switches and retimers.
We increase our 12-month PT to $270, based on a ~30x P/E multiple of our new CY28 NG EPS estimate of $9.00.”
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.
