Cantor Stays Neutral on Marvell (MRVL) Despite AI Tailwinds and Solid Earnings Beat

We recently published a list of 10 AI Stocks Gaining Wall Street’s Attention. In this article, we are going to take a look at where Marvell (NASDAQ:MRVL) stands against other AI stocks that are gaining Wall Street’s attention.

On May 30, Cantor Fitzgerald analyst C.J. Muse reiterated a Neutral rating and $60.00 price target on Marvell (NASDAQ:MRVL). Marvell engages in the development and production of semiconductors, focusing heavily on data centers.

Cantor Fitzgerald’s rating implies that there aren’t any major catalysts that would potentially alter Marvell’s stock performance in the near term. The company reported earnings slightly beating consensus estimates, with revenues of $1.89 billion and earnings per share (EPS) of $0.62, compared to the consensus of $1.88 billion and $0.61 EPS. The company’s guidance was also above expectations, projecting $2.0 billion in revenue and $0.67 EPS versus the expected $1.98 billion and $0.66 EPS.

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

Moreover, Marvell’s earnings call has largely focused on its AI Custom Silicon business. The management was particularly confident about the company’s current status with Amazon’s Trainium 2 and Maia 200, as well as future products. They noted how Marvell has secured wafer/application processor capacity for Amazon’s next-generation 3-nanometer technology, which is anticipated to ramp up in 2026. The management has also forecast revenue growth from Amazon in calendar years 2026 and 2027.

At the same time, the firm also expressed concerns that Marvell’s expected ASIC volume may be lowered if strong demand from cloud providers leads customers to seek multiple suppliers. This, along with increased competition, may seriously impact Marvell’s gross margins.

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