5 Best Performing Data Center Stocks So Far in 2026

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

On May 20, 2026, Oppenheimer analyst Rick Schafer raised the firm’s price target on Marvell Technology, Inc. (NASDAQ:MRVL) to $200 from $170 and maintained an Outperform rating on the shares ahead of quarterly results. The firm said it expects upside to both Q1 results and Q2 guidance, driven by continued strength in AI networking and custom ASIC demand as cloud service providers keep expanding data center infrastructure builds.

Wells Fargo also raised the firm’s price target on Marvell Technology, Inc. (NASDAQ:MRVL) to $195 from $135 while reiterating an Overweight rating. The firm acknowledged that Marvell’s valuation at more than 30-times projected 2027 earnings creates a more demanding setup ahead of results, though it still sees enough upside from the ramp of AWS Trainium deployments, growing XPU attach opportunities, and sustained interconnect demand to support a bullish stance on the stock.

Earlier, Melius Research analyst Ben Reitzes raised the firm’s price target on Marvell Technology, Inc. (NASDAQ:MRVL) to $220 from $140 and maintained a Buy rating on the shares. The firm said it has become incrementally more constructive on AI and memory semiconductor companies, raising long-term estimates across several AI infrastructure and semiconductor names it describes as “bottleneck stocks,” including Micron Technology, Advanced Micro Devices, Intel, and Marvell. Melius added that it continues to believe semiconductor companies will capture a larger share of long-term market value growth relative to traditional software firms and other mega-cap technology companies.

Marvell Technology, Inc. (NASDAQ:MRVL) develops semiconductor solutions focused on data infrastructure spanning cloud data centers, networking, and edge computing markets.