Marvell Technology Faces Challenges Amid Market Weakness
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 23 2024
0mins
Should l Buy MRVL?
Source: Coinmarketcap
Marvell Technology Inc's stock fell 3.74% and hit a 20-day low amid a broader market decline, with the Nasdaq-100 down 1.50% and the S&P 500 down 0.58%.
Despite the negative price movement, analysts from BNP Paribas highlighted that Marvell could benefit from Microsoft's upcoming Maia AI chip, which is expected to create new market opportunities for Ethernet application-specific integrated circuits. Although Marvell is not supplying the Maia 200 chip directly, the anticipated demand for related technologies could enhance its market position in the long run.
The implications of this news suggest that while Marvell's stock is currently under pressure, the potential growth from the Maia chip and the overall semiconductor market's resilience could provide a foundation for recovery in the future.
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Analyst Views on MRVL
Wall Street analysts forecast MRVL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for MRVL is 120.12 USD with a low forecast of 85.00 USD and a high forecast of 156.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
30 Analyst Rating
22 Buy
8 Hold
0 Sell
Moderate Buy
Current: 74.210
Low
85.00
Averages
120.12
High
156.00
Current: 74.210
Low
85.00
Averages
120.12
High
156.00
About MRVL
Marvell Technology, Inc., together with its subsidiaries, is a supplier of data infrastructure semiconductor solutions, spanning the data center core to network edge. The Company is engaged in the design, development, and sale of integrated circuits. Its product solutions serve various end markets: data center, enterprise networking, carrier infrastructure, consumer, and industrial. Its product offerings include CXL, Data Processing Units, Security Solutions, Coherent DSPs, Coherent-lite DSPs, Data Center Switches, DCI Optical Modules, Enterprise Switches, Ethernet Controllers, Ethernet PHYs, PCIe Retimers, Linear Drivers, PAM DSPs, Transimpedance Amplifiers, Fiber Channel, HDD, Storage Accelerators, and SSD Controllers. The Company develops semiconductor solutions tailored to individual customer specifications that deliver system-level differentiation for artificial intelligence, data center, compute, networking, carrier, storage, aerospace, and defense applications.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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