10 AI Stocks on Analyst’s Radar Today

7. Marvell Technology, Inc. (NASDAQ:MRVL)

Number of Hedge Fund Holders: 73

On May 27, JPMorgan analyst Harlan Sur reiterated an “Overweight” rating on Marvell Technology, Inc. (NASDAQ:MRVL) with a $130.00 price target. Heading into Thursday’s earnings report, analyst Harlan Sur is optimistic about the company’s quarterly performance.

In particular, Sur anticipates a steady uptick in volume for its AI ASIC programs, robust demand for 800G products, and the initial ramp of 1.6T optical DSPs.

These trends are in turn expected to drive cyclical recovery in its enterprise and carrier segments. April quarter results are projected to reach around $1.875 billion, and guidance for the July quarter is estimated to exceed $2.00 billion; both aligning with the firm’s consensus estimates.

One particular segment anticipated to demonstrate solid growth is the datacenter segment. Cyclical improvements and new product cycles will also positively benefit Marvell.

Sur also noted momentum in Marvell’s custom ASIC partnerships. He highlighted Amazon’s ongoing production ramp with the Trainium 2 AI XPU ASIC, the expected high-volume ramp of the Trainium 3 program in 2026, and also Marvell’s Microsoft AI ASIC MAIA Gen 2 program, which is expected to ramp in the same year.

The firm noted how the company’s AI ASICs and networking revenues could reach $4 billion this year. Last but not least, Sur anticipates that Marvell’s custom datacenter and AI ASIC pipeline, including SmartNIC/DPU ASIC chips and eSSD controller ASICs, will be key contributors to long-term growth.