William Blair Reiterates Outperform on Marvell
- Rating
- Outperform
- Unchanged
What the analyst said
William Blair analyst Sebastien Naji reiterated an Outperform rating on Marvell (NASDAQ: MRVL).
“Stock Thoughts: Marvell shares are trading down nearly 7% as investors try to balance how the expanded portfolio under Lumentum weighs against dilution and integration risk (following a steep dip in shares last week).
At these levels, MRVL trades at 24 times our calendar 2027 EPS estimate and 13 times our calendar 2028 estimate.
While we continue to see Marvell as well positioned to capture a growing share of AI spend—across ramping-up XPU programs, a widening XPU-attach funnel, and interconnect growth across all domains—we expect the pending Lumentum acquisition to be the focus on investor concerns over the coming quarters.
We maintain our Outperform rating.”
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