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集團分析師馬克·利帕西斯開始對Marvell科技公司（納斯達克股票代碼：MRVL）進行報道，評級跑贏大盤，目標股價爲88美元。
從長期和週期的角度來看，該分析師以樂觀的前景開始了對半導體行業的報道。
他強調了積極的長期前景，特別支持從事並行處理的公司，例如英偉達公司（納斯達克股票代碼：NVDA）、先進微設備公司（納斯達克股票代碼：AMD）、博通公司（納斯達克股票代碼：AVGO）和Marvell，以及物聯網（IoT）領域的公司，例如德州儀器公司（納斯達克股票代碼：TXN）、模擬設備公司（納斯達克股票代碼：ADI）、微芯科技 Inc（納斯達克股票代碼：MCHP）和恩智浦半導體NV（納斯達克股票代碼：NXPI）。
根據分析師的說法，這些公司可能會在預計增長最快的細分市場中處於領先地位。
另請閱讀： 分析師：Marvell Tech藉助亞馬遜、谷歌的人工智能加速器和微軟的潛在交易，有望實現重大增長
該分析凸顯了這樣的信念，即他們正處於長達十年的人工智能和並行處理時代的開始，即使是擁有 20-30% 市場份額的競爭對手也可以獲得可觀的回報。專門針對Marvell Technology，該分析師指出了其在網絡領域的光明前景，這要歸因於從Cavium、Innovium和Aquantia收購的技術。
根據Lipacis的說法，從週期的角度來看，半導體行業當前的上升週期可能會持續到2025年第一和第二季度。
模擬和微控制器單元（MCU）的這一期限可能會延長到2025年底，這些單元的庫存水平調整速度較慢。
但是，他表示，預計2024年第三和第四季度將出現週期中期修正，這爲該週期的高潮之前提供了戰略購買機會。
在過去的12個月中，Marvell科技的股票上漲了68％以上。投資者可以通過iShares美國數字基礎設施和房地產ETF（紐約證券交易所代碼：IDGT）和Spear Alpha ETF（納斯達克股票代碼：SPRX）獲得股票敞口。
價格走勢：在週二的最後一次支票中，MRVL股價上漲0.70％，至68.36美元。
免責聲明： 該內容部分是在人工智能工具的幫助下製作的，並由Benzinga編輯審閱和發佈。
照片來自 Shutterstock
