Needham Raises Marvell Price Target to $300
Needham analyst N.
Quinn Bolton raised the price target on Marvell (NASDAQ: MRVL) to $300 (from $270) while maintaining a Buy rating on August 28, 2026.
“Marvell reported F2Q27 results slightly ahead of our expectations and issued guidance above estimates.
Our key takeaways include: 1) Momentum is expected to continue into FY28 as management guided to +50% Y/Y revenue growth, up from +45% previously.
Results should be driven by continued strength in interconnect and custom silicon; 2) If all milestones under the previously announced Google agreement are achieved, it could represent up to $120BN of revenue over the next six years; 3) Gross margin in FY28 and FY29 is increasing vs. prior expectations due to an improving mix within the custom silicon business; and, 4) Management stated its FY28 revenue outlook for scale-up optics has increased meaningfully versus prior expectations.
We increase our 12-month PT to $300, based on a ~30x P/E multiple of our new CY28 NG EPS estimate of $10.25.”
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.
