bulls."With a solid history of execution and through the expansion of its product portfolio targeting high margin, high growth cloud/5G/automotive infrastructure markets, Marvell now targets one of the highest long-term revenue growth rates among large capitalization companies in the semiconductor industry," said Bolton.will achieve more than 30% organic revenue growth in CY22 and around 20% of that in CY23, on the back of new design wins for its 5nm platform.
The analyst also expects non-GAAP gross margin to reach 40% by the end of FY24. Needless to say, Bolton reiterated his buy rating on the stock, with a price target of $66. The analyst is ranked No. 3 among 8,000 analysts on TipRanks' database, and he has a 67% success rate on his ratings. Moreover, each of his ratings has generated average returns of 41.4%.
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