Marvell Maintains Buy Rating with $80 Price Target

Exane BNP Paribas analyst Karl Ackerman maintained a Buy rating and $80 price target for Marvell (MRVL) in a report released today. Ackerman has a 4-star rating with a 58.56% success rate. Marvell's quarterly revenue reached $1.9 billion, and the company reported a net profit of $177.9 million, compared to a GAAP net loss of $215.6 million last year. Despite a negative corporate insider sentiment, Ackerman's Buy rating remains unchanged.

Marvell Technology (MRVL) shares plunged Friday after the chip designer issued a sales forecast below Wall Street’s expectations. The company reported third-quarter revenue of $2.06 billion, slightly below analysts' estimates [1]. CEO Matthew Murphy noted that data center sales are expected to be flat on a sequential basis but anticipates stronger performance in the fourth quarter.

The stock has been on a downward trend, breaking down below an uptrend line extending back to the April low and failing to reclaim the 200-day moving average. Key support levels to watch on Marvell's chart include $62, $56, and $50, while an overhead area near $78 could provide resistance [1].

Despite the negative outlook, Exane BNP Paribas analyst Karl Ackerman maintained a Buy rating and $80 price target for Marvell, citing the company's strong revenue growth and net profit [2]. The analyst has a 4-star rating with a 58.56% success rate. Marvell's quarterly revenue reached $1.9 billion, and the company reported a net profit of $177.9 million, compared to a GAAP net loss of $215.6 million last year.

Investors should closely monitor Marvell's earnings and strategic initiatives, particularly its focus on AI infrastructure and 2nm custom silicon technologies. The company's recent collaboration with Microsoft underscores its strategic positioning in the fast-growing market for cloud-based hardware security [3].

References:
[1] https://finance.yahoo.com/news/watch-marvell-technology-price-levels-143142680.html
[2] https://www.ainvest.com/news/marvell-technology-set-report-q2-earnings-expect-2508/
[3] https://www.ainvest.com/news/marvell-technology-mrvl-2026q2-earnings-preview-upside-ai-revenue-momentum-2508/