Marvell Hits Record High as Oppenheimer Backs AI Push With $170 Target

Overview

• Oppenheimer’s Rick Schafer named Marvell a top semiconductor pick and set a $170 price target that signals about 25% upside.
• Shares have climbed roughly 60% this year and touched an all‑time high of $138.19 in recent trading.
• Nvidia invested $2 billion through preferred stock to use Marvell’s networking parts in its large AI “factory” clusters that train and run models.
• Management guides revenue to roughly $11 billion in fiscal 2027 and targets $15 billion in fiscal 2028 as AI demand scales.
• Data‑center products now make up 74% of revenue, with custom processor sales doubling and strong orders for 800G optical links.