Evercore ISI Group analyst Mark Lipacis initiated coverage on Marvell Technology Inc (NASDAQ:MRVL) with an Outperform rating and a price target of $88.
The analyst initiated coverage of the semiconductor sector with an optimistic outlook, both from secular and cyclical perspectives.
He highlighted a positive long-term view, particularly favoring companies engaged in Parallel Processing, such as Nvidia Corp (NASDAQ:NVDA), Advanced Micro Devices, Inc (NASDAQ:AMD), Broadcom Inc (NASDAQ:AVGO), and Marvell, as well as those in the Internet of Things (IoT) sector like Texas Instruments Inc (NASDAQ:TXN), Analog Devices Inc (NASDAQ:ADI), Microchip Technology Inc (NASDAQ:MCHP), and NXP Semiconductors NV (NASDAQ:NXPI).
According to the analyst, these companies will likely lead in segments predicted to experience the highest growth.
Also Read: Marvell Tech Set for Major Growth with AI Accelerators for Amazon, Google, and Potential Microsoft Deal: Analysts
The analysis underscores the belief that they are at the beginning of a decade-long era of AI and parallel processing, where even competitors holding a 20-30% market share can achieve significant returns. Specifically for Marvell Technology, the analyst pointed out its promising prospects in networking, which are attributed to technologies acquired from Cavium, Innovium, and Aquantia.
From a cyclical standpoint, the current upcycle in the semiconductor industry will likely continue into the first and second quarters of 2025, as per Lipacis.
This duration could extend to the end of 2025 for analog and microcontroller units (MCUs), which have been slower in adjusting their inventory levels.
However, he said a mid-cycle correction is predicted for the third and fourth quarters of 2024, presenting a strategic purchasing opportunity ahead of the cycle's climax.
Marvell Technology stock gained over 68% in the last 12 months. Investors can gain exposure to the stock via IShares U.S. Digital Infrastructure And Real Estate ETF (NYSE:IDGT) and Spear Alpha ETF (NASDAQ:SPRX).
Price Action: MRVL shares are trading higher by 0.70% to $68.36 on the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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Evercore ISI集团分析师马克·利帕西斯开始对Marvell科技公司（纳斯达克股票代码：MRVL）进行报道，评级跑赢大盘，目标股价为88美元。
从长期和周期的角度来看，该分析师以乐观的前景开始了对半导体行业的报道。
他强调了积极的长期前景，特别支持从事并行处理的公司，例如英伟达公司（纳斯达克股票代码：NVDA）、先进微设备公司（纳斯达克股票代码：AMD）、博通公司（纳斯达克股票代码：AVGO）和Marvell，以及物联网（IoT）领域的公司，例如德州仪器公司（纳斯达克股票代码：TXN）、模拟设备公司（纳斯达克股票代码：ADI）、微芯科技 Inc（纳斯达克股票代码：MCHP）和恩智浦半导体NV（纳斯达克股票代码：NXPI）。
根据分析师的说法，这些公司可能会在预计增长最快的细分市场中处于领先地位。
另请阅读： 分析师：Marvell Tech借助亚马逊、谷歌的人工智能加速器和微软的潜在交易，有望实现重大增长
该分析凸显了这样的信念，即他们正处于长达十年的人工智能和并行处理时代的开始，即使是拥有 20-30% 市场份额的竞争对手也可以获得可观的回报。专门针对Marvell Technology，该分析师指出了其在网络领域的光明前景，这要归因于从Cavium、Innovium和Aquantia收购的技术。
根据Lipacis的说法，从周期的角度来看，半导体行业当前的上升周期可能会持续到2025年第一和第二季度。
模拟和微控制器单元（MCU）的这一期限可能会延长到2025年底，这些单元的库存水平调整速度较慢。
但是，他表示，预计2024年第三和第四季度将出现周期中期修正，这为该周期的高潮之前提供了战略购买机会。
在过去的12个月中，Marvell科技的股票上涨了68％以上。投资者可以通过iShares美国数字基础设施和房地产ETF（纽约证券交易所代码：IDGT）和Spear Alpha ETF（纳斯达克股票代码：SPRX）获得股票敞口。
价格走势：在周二的最后一次支票中，MRVL股价上涨0.70％，至68.36美元。
免责声明： 该内容部分是在人工智能工具的帮助下制作的，并由Benzinga编辑审阅和发布。
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