UBS Reiterates Buy Rating on Marvell (MRVL)

UBS analyst Timothy Arcuri reiterated a Buy rating and $100.00 price target on Marvell (NASDAQ: MRVL).

The analyst commented, "We continue to think MRVL will indeed grow its AMZN revenue next year, though we are unsure how much to underwrite for MSFT in '27 as we think it balances Maia ASIC deployment with AMD's roadmap. The bad news we see here is that Street EPS still seems a bit high, but the good news is that this seems discounted w/the stock trading at only ~16-17x C2026 Street EPS. Net, we make fairly minimal changes to our EPS even as we strip out the autos business in FQ4 of this year. As these hang-ups around custom ASIC are resolved, we expect the multiple to re-expand and still believe the stock can command a solid multiple and we also expect an improvement in sentiment post the custom ASIC day in a few weeks. Ergo, we are keying to a ~$3.80-$3.90 EPS number in C2027 which we think supports our unchanged price target of $100."

For an analyst ratings summary and ratings history on Marvell click here. For more ratings news on Marvell click here.

Shares of Marvell closed at $63.73 yesterday.

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