Jefferies Remains Bullish on Marvell Technology (MRVL) Following Q1 Report

On May 30, Jefferies analyst Blayne Curtis maintained a Buy rating on Marvell Technology, Inc. (NASDAQ:MRVL) with a $90.00 price target. The rating came after the company released its fiscal Q1 2026 earnings on May 29, reporting a notable 63% year-over-year increase in revenue which grew to a record $1.895 billion.

The analyst based his rating on Marvell Technology, Inc.’s (NASDAQ:MRVL) solid financial performance and strategic advancements. The company reported fiscal Q1 2026 results ahead of expectations, driven by consistent growth in the optical and AI sectors, as well as strong performance in data centers.

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

Curtis expects this momentum to continue for Marvell Technology, Inc. (NASDAQ:MRVL), as its revenue guidance for the coming quarter is also slightly ahead of expectations. It anticipates organic growth of approximately 5% to 6% in total revenue for fiscal year 2025.

He also highlighted that the company has exhibited a strong focus on expanding its 3nm wafer and advanced packaging capacity, which he anticipates will support future growth. This holds especially true with MRVL’s key customer, Amazon.

Despite the risk of challenges with AMZN exploring multiple silicon paths, Marvell Technology, Inc. (NASDAQ:MRVL) remains optimistic about its potential to grow ASIC revenue in the upcoming years, supporting the Buy rating.

Marvell Technology, Inc. (NASDAQ:MRVL) designs, develops, and sells integrated circuits. Its offerings include security solutions, data processing units, automotive, ethernet controllers, fiber channels, ethernet PHYs, and various others.

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Disclosure: None.