Marvell Technology has more than doubled in value this year. And somehow, analysts think it’s still cheap.
MRVL shares have surged roughly 142% year-to-date through May 26, 2026, a performance that makes the S&P 500’s approximately 10% gain over the same period look like a participation trophy. The rally comes as the semiconductor company prepares to report its Q1 fiscal year 2027 earnings on May 27, with Wall Street firms tripping over each other to raise their price targets.
The analyst pile-on
HSBC upgraded Marvell to Buy and slapped a $300 price target on the stock, up from $85. Citi raised its price target by 82% to $215. Susquehanna bumped its target to $230 from $100. Morgan Stanley and Stifel have also adjusted their recommendations upward.
The common thread across every upgrade is the same two words: artificial intelligence. Specifically, Marvell’s positioning in AI networking infrastructure and optical interconnect technology has convinced analysts that the company is riding what some are calling an “AI-networking super-cycle.”
