Marvell (MRVL) PT Raised to $50 at Rosenblatt on Shift to 5nm

Rosenblatt analyst Hans Mosesmann raised the price target on Marvell (NASDAQ: MRVL) to $50.00 (from $42.00) noting that the company is making a highly ambitious move to jump to 5nm skipping 12nm with expected sampling at the end of 2021. This is likely to challenge competitors by this new entry into the upper echelon of data center incumbents at a time when the company's design win momentum in 5G base stations is increasing with Huawei out of the picture.

The analyst reiterated a Buy rating, stating "We are incrementally more bullish on MRVL on eyebrow raising acceleration to 5nm process technology with TSMC that shatters the fast-follower historical moniker, and clever shift to custom ASIC server-class ARM-processor roadmap from standard merchant offerings. Data center evolution is accelerating to a new architectural imperative based on software definition and off-loading compute intensity to storage and networking subsystems (SmartSSDs, SmartNICs, and Accelerators), which is spot on where Marvell’s IP portfolio is optimized going forward".

You May Also Be Interested In

• HDFC Asset Management Co Ltd (HDFCAMC:IN) PT Raised to INR3,250 at JPMorgan
• MDA Ltd (MDA:CN) (MDALF) PT Raised to Cdn$64 at CIBC
• Forgent Power Solutions (FPS) PT Raised to $73 at TD Cowen