Marvell Technology (NASDAQ: MRVL) is attracting a surge of bullish analyst revisions ahead of its fiscal first-quarter 2027 earnings release scheduled for May 27, with multiple Wall Street firms raising price targets sharply as confidence in the company’s AI infrastructure positioning strengthens.
Bank of America analyst Vivek Arya lifted his price target on MRVL to $200 from $125 while maintaining a buy rating, naming the chipmaker alongside Nvidia, Broadcom, Micron, and AMD as a top pick in the semiconductor space. His upgrade reflects an upward revision to his 2027 AI data center total addressable market forecast, which he now estimates at approximately $1.7 trillion, up from $1.4 trillion previously.
Arya cited continued ramps in 800G and 1.6T optical transceivers as well as sustained strength in custom silicon demand as the primary near-term drivers for the stock.
RBC Capital analyst Srini Pajjuri similarly reiterated a buy rating and raised his price target to $200 from $170. He expects momentum in Marvell’s optical business to continue throughout 2026 and views Nvidia’s recent $2 billion investment in the company as a meaningful endorsement of Marvell’s dominance in optical connectivity infrastructure.
Pajjuri noted that custom accelerator chip trends remain strong, though tight wafer supply could constrain near-term upside.
B. Riley analyst Craig Ellis raised his target to $205 from $156, pointing to faster-than-anticipated acceleration in AI investment driven by growing capital expenditure from hyperscalers and newer cloud providers. Goldman Sachs also participated in the revision cycle, lifting its target to $125 from $100.
Wall Street consensus now sits at a Strong Buy, based on 22 buy ratings and four hold ratings from the analysts covering the stock. MRVL shares have rallied more than 120% year-to-date, driven by the company’s growing dominance in custom AI accelerators, data center interconnect technology, and silicon photonics.
Quarterly earnings per share of $0.79 are expected for the upcoming report, implying 27% year-over-year growth.
Advanced Micro Devices separately disclosed a small but notable stake increase in Marvell, worth approximately $6.5 million as of end of March, in its latest quarterly filing. Analysts flagged the AI networking exposure that Marvell and Cisco share as the broader AI compute buildout continues to require denser, faster interconnect infrastructure to link GPU clusters at scale.
