Piper Sandler Marvell · MRVL

Piper Sandler Initiates Marvell at Overweight, $270 Price Target

1 min read Reproduced verbatim
Rating
Overweight
New coverage
Target
$270
First target
Outcome
Reached
on October 2, 2026
Piper Sandler and Marvell logos

What the analyst said

Piper Sandler analyst David O’Connor initiates coverage on Marvell (NASDAQ: MRVL) with an Overweight rating and a price target of $270.

“MRVL is a key player in datacenter components with ~10% market share and leading franchises in DSP and custom attach connectivity.

Its deep relationships with hyperscalers, as well as recent acquisitions (Celestial AI), positions it very well to win custom share and ride the next optical (CPO) networking wave.

The $120B Google agreement is validation of the strategy and transformative for the company, driven by TPU attach programs starting in FY29E.

We see the Oct-6 analyst day as an opportunity for the company to lay out the LT model, and we view it as a catalyst for the stock.

We estimate EPS growing at a ~45% CAGR, driving $19 in earnings by CY30E. We initiate at OW setting our PT to $270, based on CY30 P/E multiple of 18x.”

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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 $218. The 23 analysts who set a target in the last 3 months range from $195 to $433, with a median of $360. This $270 target is 25% below the median.

Since the note MRVL has moved −7% (from $235). 12-month window: day 49 of 365, closes on September 10, 2027.

Track record

This call✓ Target reached on October 2, 2026, 22 days after the note.

Firm track recordPiper Sandler: 86% of its 29 targets at least a year old were reached within 12 months (#11 of 21 firms). Accuracy ranking →

Piper Sandler on Marvell

Piper Sandler price targets on Marvell

3 calls from September 10, 2026 to October 29, 2026. The target went from $270 to $400 (+48%). The rating stayed Buy.

Piper Sandler targetMRVL share price
  1. October 29, 2026Kept the $400 targetBuy$400
  2. October 7, 2026Target raised from $270 (+48%)Buy$400
  3. September 10, 2026 This noteEarliest call shownBuy$270
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Other analysts on Marvell

Raymond JamesBuy Kept rating and price target Oct 29 $295maintained StifelBuy Kept rating and price target Oct 29 $370maintained StifelBuy Kept rating and price target Oct 13 $370maintained StifelBuy Kept rating and price target Oct 9 $370maintained UBSBuy Raised price target +4%, kept rating Oct 7 $350from $335
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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.