Oppenheimer analyst Rick Schafer maintains $Marvell Technology (MRVL.US)$ with a buy rating, and adjusts the target price from $90 to $110.
According to TipRanks data, the analyst has a success rate of 70.9% and a total average return of 24.6% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Marvell Technology (MRVL.US)$'s main analysts recently are as follows:
Anticipations are set high for Marvell's upcoming quarterly outcomes, driven by advancements in custom compute and networking/optics. The momentum is expected to pick up further in the latter half of the year, projected to continue accelerating into 2025 due to several product cycles and increases in share and content. This outlook supports a long-term positive stance on the stock.
Anticipation of accelerating custom AI ASIC ramp along with ongoing normalization of core revenue are expected to bolster further confidence in future earnings per share.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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