Overview
- Evercore raised its price target to $155 after checks pointed to a shift toward AI inference that favors custom ASICs.
- Melius set a $220 target, signaling confidence in Marvell’s growing role in AI data center hardware.
- Marvell reported Q3 FY2026 revenue of $2.07 billion with data center sales of $1.52 billion and non-GAAP EPS of $0.76.
- Management guided full-year FY2026 revenue growth above 40% and cited more than 50 custom AI chip opportunities across over 10 customers.
- The company is deepening optical links for large AI clusters through the Celestial AI purchase and the planned Polariton Technologies acquisition.