Morgan Stanley Maintains Equal-Weight on Marvell Tech, Raises PT to $73.

Morgan Stanley Maintains Equal-Weight on Marvell Tech, Raises PT to $73.

Morgan Stanley has lowered its price target on Marvell Technology, Inc. (NASDAQ: MRVL) to $70, while keeping an Equal Weight rating on the shares [1]. The revision comes following Marvell's pre-announcement of its revenue guidance for the upcoming Q1 FY2026 report, which was released on May 29. The company revised its revenue guidance to a range of $1.85 billion +/- 2%, down from the previous guidance of +/- 5% growth.

Joseph Moore from Morgan Stanley expressed that the pre-announcement was "somewhat disappointing" given the ongoing positivity in the Trainium supply chain, strength in optical, and projected rebound in conventional networking/communications infrastructure. Despite the challenging macroeconomic climate, Marvell remains optimistic about its development in the custom AI silicon sector and has scheduled a webinar to discuss technical areas in the sector on June 17.

Marvell Technology, Inc. is a leading supplier of data infrastructure semiconductor solutions, serving markets including data center, carrier infrastructure, enterprise networking, consumer, and automotive. The company designs, develops, and markets integrated circuits (ICs). While Marvell acknowledges the potential for growth, Morgan Stanley believes some AI stocks hold greater promise for delivering higher returns with limited downside risk.

References:
[1] https://finance.yahoo.com/news/morgan-stanley-lowers-pt-marvell-182029153.html