Analysts turn more bullish on Marvell Technology after earnings, with one calling the stock a 'top custom AI chip play'

Wall Street is turning more bullish on shares of Marvell Technology in the wake of a strong earnings report. Shares popped more than 13% in the premarket after the integrated circuit maker surpassed third-quarter estimates after the bell Tuesday and issued upbeat revenue guidance. The findings prompted a slew of Wall Street firms to lift their respective price targets on the semiconductor. JPMorgan analyst Harlan Sur moved his forecast to $130 a share, reflecting nearly 36% upside.

mountain MRVL year to date Citi's Atif Malik referred to the stock as the "top custom AI chip play" for 2025 as he lifted his price target to $112 from $91, while Morgan Stanley analyst Joseph Moore boosted his objective to $102 a share, citing a strong customer application specific integrated circuit setup. Malik has a buy rating on shares, while Moore rates them as equal weight.

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