These are top 10 stocks traded on the Robinhood UK platform in July
Rosenblatt Securities reiterated its buy rating and $124.00 price target on Marvell Technology (NASDAQ:MRVL), currently trading at $69.99 with a market cap of $60.35 billion, following the company’s recent investor event focused on custom AI infrastructure opportunities. According to InvestingPro data, 15 analysts have recently revised their earnings estimates upward, reflecting growing confidence in the company’s prospects.
The investor presentation highlighted Marvell’s expanding total addressable market, which has grown to $94 billion from $75 billion last year. The company is targeting 20% market share, up from its current 13% position in the custom ASIC market. InvestingPro data shows strong momentum, with revenue projected to grow 43% in FY2026, supporting this ambitious market share goal.
Marvell’s leadership in the custom ASIC sector positions it to target "the most important and most profitable opportunities" in the rapidly expanding market, according to Rosenblatt. The firm noted that while many ASIC providers can succeed as the market grows, long-term winners will be those helping customers achieve success.
Rosenblatt emphasized Marvell’s technological advantages that differentiate it from competitors, including IP leadership in SerDes, networking, chiplets, packaging, process technology, custom SRAM & HBM, integrated voltage regulators, and silicon photonics.
The $124 price target represents a 31x target P/E multiple on Marvell’s fiscal year 2027 non-GAAP earnings per share, with Rosenblatt highlighting the potential earnings leverage that custom ASIC revenue could drive for the company. While currently trading near its Fair Value according to InvestingPro, the stock maintains strong growth potential with analyst targets ranging up to $133. Get access to 12 additional exclusive ProTips and comprehensive valuation metrics with an InvestingPro subscription.
In other recent news, Marvell Technology has reported a significant year-over-year revenue increase of 63%, with its Data Center business experiencing a 76% surge. This growth is notable, although the company’s modest guidance and lack of specific AI results may have tempered investor enthusiasm. Additionally, TD Cowen has raised its price target for Marvell from $60 to $70, maintaining a "Buy" rating, citing the company’s strong engagement with Amazon (NASDAQ:AMZN) on 3-nanometer technology. UBS also reiterated a "Buy" rating with a $100 price target, projecting revenue growth from Amazon next year and a positive shift in stock valuation as custom ASIC challenges are addressed.
Furthermore, Marvell has launched the first 2nm custom SRAM technology for AI infrastructure, claiming it reduces on-chip memory standby power consumption by up to 66%. The company also unveiled its custom Ultra Accelerator Link (UALink) solution to enhance interconnect capabilities between AI accelerators and switches. These developments are part of Marvell’s strategy to tackle semiconductor advancement challenges in a post-Moore’s Law world. Benchmark maintained a "Buy" rating with a $95 price target, despite the market’s lukewarm reaction to Marvell’s latest financial results compared to Nvidia (NASDAQ:NVDA)’s performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.