Bank of America just raised its EUR/USD forecast
On Wednesday, Stifel analysts maintained their Buy rating and $80.00 price target for Marvell Technology Group Ltd . (NASDAQ:MRVL), a semiconductor company. Trading at an EV/EBITDA multiple of 43.4x and currently showing high price volatility, the stock has seen a 29% decline over the past six months. The firm’s analysts project that the April quarter results will align with their revenue estimate of $1.875 billion. This outlook comes after Marvell adjusted its guidance to a narrower range of +/-2%, a change from the previous +/-5%, following the rescheduling of its Investor Day to June 10.
The analysts anticipate that Marvell could offer a July quarter revenue guidance with a midpoint close to Stifel’s current $1.97 billion estimate. They also suggest the possibility of an upward revision, citing potential increases in data center and artificial intelligence (DC/AI) revenue forecasts based on peer commentary. Recent positive statements from hyperscalers further support the analysts’ optimistic view.
Stifel’s analysts reaffirm their Buy rating and 12-month price target of $80, which is based on a 7.7x multiple of Marvell’s estimated calendar year 2026 enterprise value to sales. They believe Marvell is well-positioned to benefit from the rapid expansion of data infrastructure, which they see as a long-term growth driver for the company.
In other recent news, Marvell Technology Group Ltd. has been the focus of several analyst reviews and financial projections. Redburn-Atlantic initiated coverage on Marvell with a Neutral rating and a price target of $67, expressing concerns about Marvell’s role in future Amazon (NASDAQ:AMZN) Web Services (AWS) chip developments. Meanwhile, Cantor Fitzgerald maintained a Neutral rating with a $60 target, anticipating slight outperformance in Marvell’s upcoming financial results, driven by AI Data Center growth. Susquehanna, while maintaining a Positive rating, lowered its price target to $90 from $110 due to challenges in Marvell’s Inphi (NASDAQ:IPHI) and custom ASIC segments.
JPMorgan reiterated an Overweight rating with a $130 price target, expecting robust demand for Marvell’s AI ASIC programs and optical DSPs. The firm anticipates Marvell’s earnings to reflect a steady increase in volume and a cyclical recovery in enterprise and carrier segments. Melius Research downgraded Marvell to Hold, maintaining a $66 price target, citing unmet expectations in Marvell’s investment thesis and potential underperformance compared to other semiconductor stocks. These recent developments highlight the varied perspectives and expectations surrounding Marvell’s financial performance and strategic positioning in the semiconductor industry.
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