Cantor Fitzgerald Trims Marvell (MRVL) PT to $100, Cites Neutral Stance Amid AI Expansion

Marvell Technology Inc. (NASDAQ:MRVL) is one of the best stocks to buy for the next 5 years. On December 16, Cantor Fitzgerald analyst C.J. Muse lowered the firm’s price target on Marvell to $100 from $110 with a Neutral rating on the shares. This sentiment came out as Muse projects that the Philadelphia Semiconductor Index/SOX is set to lead the broader market higher through 2026, following a standout performance in 2025 where it beat the S&P 500 by ~30 points. The firm’s bullish outlook is anchored by the early-stage expansion of the AI era, which continues to fuel intense demand for high-performance compute, networking, memory, and semiconductor manufacturing equipment.

In its FQ3 2026 earnings report, Marvell Technology disclosed record revenue of $2.075 billion, which was a 37% year-over-year increase. The company’s performance was supported by its Data Center segment, which generated $1.52 billion (up 38%), and its Communications business, which brought in $557 million (up 34%). Non-GAAP EPS surged 77% annually to $0.76, exceeding sequential expectations by 13%. Marvell now targets a revenue midpoint of $2.2 billion for FQ4, which would represent 21% year-over-year growth. Non-GAAP EPS for FQ4 is expected to fall between $0.74 and $0.84.

A major highlight of the quarter was the acquisition of Celestial AI, a move designed to strengthen Marvell’s optical interconnect and photonic fabric capabilities. Marvell already secured a design win with a leading Tier 1 hyperscaler for Celestial AI’s photonic fabric chiplets. While this acquisition is not expected to contribute meaningful revenue until H2 FY2028, management projects it could eventually reach revenue milestones of $500 million to $1 billion as optical interconnect technology becomes critical for future AI scaling.

Marvell Technology Inc. (NASDAQ:MRVL), together with its subsidiaries, provides data infrastructure semiconductor solutions, spanning the data center core to the network edge.

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Disclosure: None. This article is originally published at Insider Monkey.