Marvell Technology (MRVL) received several analyst upgrades on May 28, 2026, following a strong first-quarter report. HSBC upgraded the stock from Hold to Buy and set a $300 price target. Rosenblatt, Benchmark, and RBC Capital Markets also issued significant price target increases.
Surging demand in artificial intelligence and data center markets drove the optimistic outlook. Marvell raised its fiscal 2027 revenue guidance to nearly $11.5 billion. The company expects fiscal 2028 revenue to reach $16.5 billion. Strength in optical connectivity and custom silicon businesses supports these projections.
Marvell shares fell 1% in late morning trading despite the bullish analyst commentary.