Barclays Keeps Overweight Rating on Marvell Technology (MRVL)

Marvell Technology, Inc. (NASDAQ:MRVL) is one of the 10 Best American Semiconductor Stocks to Buy Now. On May 30, Barclays reaffirmed its “Overweight” rating on Marvell Technology, Inc. (NASDAQ:MRVL) and kept the price target steady at $80.

The endorsement comes as the semiconductor company highlighted progress in its technology, especially its work on 3nm process technology in partnership with Amazon. The company has also secured wafer capacity and is open to using multiple suppliers to meet its production needs.

An assembly line in a semiconductor factory, with workers at their stations.

Marvell Technology, Inc.’s (NASDAQ:MRVL) collaboration with Microsoft is also going well, focusing on the next generation of XPU computing units. However, there are concerns about the optical segment, where the company might experience weaker demand in July, possibly because of tougher competition in the digital signal processor (DSP) market compared to last year.

Barclays analysts also highlighted Marvell Technology, Inc.’s (NASDAQ:MRVL) strategy of buying back its shares, which is expected to be bolstered by the expected sale of its automotive division later this year.

Marvell Technology, Inc. (NASDAQ:MRVL) is an American company that develops and produces semiconductors and related technology for various applications, including AI, data centers, compute, networking, and storage infrastructure.

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