- Evercore ISI raised its price target for Marvell Technology, Inc. to $433.00 from $275.00, maintaining an Outperform rating.
- Marvell projects significant revenue growth, targeting $20.00 billion by fiscal 2028 and $70.00 billion–$90.00 billion by fiscal 2031, driven by AI infrastructure.
- The company anticipates strong demand for data center technology, with an estimated 80% growth in data center revenue by fiscal 2028.
Marvell Technology, Inc. (NASDAQ: MRVL) is a leading semiconductor chip company that supplies technology for data centers, including custom chips and products that move data between systems. Evercore ISI maintains its Outperform rating and raises its price target to $433.00 from $275.00. The stock trades at $287.01 when the update is published.
The higher target follows Marvell’s 2026 Investor Day forecasts, as highlighted by MarketBeat. Marvell raises its fiscal 2028 revenue outlook to approximately $20.00 billion from $18.00 billion and outlines a path to $70.00 billion–$90.00 billion in annual revenue by fiscal 2031, underscoring its long-term growth strategy in the semiconductor industry.
Marvell expects demand for AI infrastructure to drive sales of connectivity, custom silicon, and optical technology. CEO Matt Murphy says the fiscal 2028 forecast implies roughly 67% year-over-year revenue growth, including about 80% growth in data center revenue, highlighting the company’s strong position in the evolving AI market.
Marvell reports $8.20 billion in total fiscal 2026 revenue, including $6.10 billion from data centers, and expects approximately $12.00 billion in fiscal 2027. Shares rise $15.76, or 5.81%, to $287.01. That price remains below Evercore ISI’s new target, which is an analyst estimate rather than a guaranteed future price.
