Marvell Technology’s momentum over the past 12 months is likely to continue to build, multiple Wall Street analysts suggested after the chipmaker released its latest quarterly report. The semiconductor company reported first-quarter fiscal 2027 profits and revenue that beat consensus estimates. Marvell also announced a better-than-expected data center revenue outlook for its second quarter fiscal year and a better-than-expected profit forecast. And despite the stock’s 3% pre-market drop, multiple Wall Street analysts reiterated their buy-equivalent ratings on Marvell and raised their price targets in hopes of building on Marvell’s surge over the past year: Citi: Increased price target from $215 to $225 — a 15% increase from Wednesday’s closing price Deutsche Bank: Increased price target from $120 to $240 — a 20.8% increase UBS: $230 from Marvell $195 — up 15.8% Bank of America: $200 to $240 Barclays: $150 to $275 — up 38.4% “MRVL delivered another solid beat/raise, putting the numbers up again, but it looks like there’s still gas left in the tank,” UBS analyst Timothy Arcuri wrote to clients. “We continue to view MRVL’s networking and optical portfolio as uniquely differentiated and believe there is a path to further upside as demand grows.”The stock has been on a tear lately. Increased by 207.6% over the past 12 months. It rose 133.8% in 2026 as data center demand for artificial intelligence shows no signs of slowing down. MRVL 1Y Mountain MRVL 1 Year But not everyone on the street was so optimistic following the report. Analysts at Morgan Stanley and Goldman Sachs maintained their weight and neutral ratings on the stock, expecting a slight decline. “Expectations have also risen significantly. These numbers and the long-term commentary were clearly positive (but) to become more constructive from current levels we would likely need to see continued estimate revisions, additional evidence of sustained growth in networking shares and content, or increased confidence in large-scale custom ramps,” Morgan Stanley analyst Joseph Moore said. “We’re neutral on the stock given Marvell’s weaker outlook for growth in its custom silicon customer base relative to its peers, but could become more constructive if the company gains some confidence that its custom computing revenue will grow in 2027 and beyond,” Goldman’s James Schneider said.
