🔴 MRVL is trading 3.8% down today as profit-taking persists despite a UBS price target hike to $340

MRVL is trading 3.8% down at $256.53 as investors continue to take profits following a massive AI-driven rally and the stock's recent inclusion in the S&P 500.

• UBS reiterated its Buy rating and raised its price target to $340 on June 29, citing expanding opportunities in Compute Express Link (CXL) technology.
• The downward move follows sharp declines last week, with the stock underperforming the broader tech market as traders readjust positions after the recent price spike.