Marvell Technology (NASDAQ:MRVL | MRVL Price Prediction) has ridden the AI infrastructure wave to one of the sharpest reratings in the S&P 500 this year, with shares up 122.35% year to date.
After a pullback from June highs, the setup looks more interesting than dangerous. Our 24/7 Wall St. price target sees meaningful upside from here.
The 24/7 Wall St. Price Target for Marvell
The 24/7 Wall St. price target for Marvell is $249.65, implying 24.35% upside from the current $200.76 quote. Our recommendation is buy with high confidence at 90%. Bookings acceleration, custom silicon wins, and a real Nvidia partnership give Marvell room to run.
| Metric | Value |
|---|---|
| Current Price | $200.76 |
| 24/7 Wall St. Price Target | $249.65 |
| Upside | 24.35% |
| Recommendation | BUY |
| Confidence Level | 90% |
A Wild Ride From $84 to $329 and Back
Marvell entered 2026 at $84.86, ripped to a 52-week high of $329.80 in June, then gave back 34.82% over the last month as hyperscaler capex worries hit the AI silicon complex.
In Q1 FY2027, revenue hit $2.418 billion (up 27.6% year over year) with data center contributing $1.827 billion, or 76% of total revenue.
CEO Matt Murphy said the team is seeing “exceptional AI-related bookings” and raised the outlook for both fiscal 2027 and fiscal 2028. Q2 guidance calls for $2.7 billion in revenue, roughly 35% growth. The recent selloff reflects sentiment rather than fundamentals.
Why Bulls See $340 and Beyond
The bull case rests on custom silicon. KeyBanc’s John Vinh has a $400 target tied to a potential $12 billion Google “Merope” ASIC win, and UBS raised its target to $340 on the Teralynx T100 launch.
The $2 billion NVIDIA strategic investment and NVLink Fusion integration give Marvell a seat at the table for scale-up AI networks. Management sees the custom ASIC business scaling from $1.5 billion today to over $4 billion by 2028.
The bull case one-year target sits at $347.35, roughly 73% upside if bookings hold and hyperscaler capex stays firm.
What Could Go Wrong
Marvell trades at a forward P/E of 47 and a trailing P/E of 65, both premium marks. Data center at 76% of revenue creates concentration risk, and hyperscalers pursuing in-house silicon remains a threat.
Insider selling of roughly $26.8 to $30.9 million over 90 days is a yellow flag, though largely tied to tax-related sales under 10b5-1 plans. The bear case one-year target is $191.31, a modest 4.71% decline.
The GAAP earnings decline reflects the acquisition charge rather than operating deterioration; non-GAAP EPS of $0.80 beat consensus.
How Marvell Compares to Broadcom and NVIDIA
Broadcom (NASDAQ:AVGO) is the direct comparable on custom AI silicon. Broadcom’s Q2 FY2026 AI semiconductor revenue reached $10.8 billion, up 143% year over year, with Q3 AI revenue guided at $16 billion.
That is roughly 6x Marvell’s total quarterly revenue, validating Marvell’s $4 billion custom ASIC target for 2028.
NVIDIA (NASDAQ:NVDA) is both an anchor customer and partner through NVLink Fusion. NVIDIA trades at a trailing P/E of 41, cheaper than Marvell despite posting 85.2% year-over-year revenue growth in Q1 FY2027.
NVIDIA’s networking revenue grew 199% year over year, and Marvell sells the optics and DSPs that feed those systems. Our $249.65 target looks reasonable on the peer set.
The Bottom Line on Marvell
Buy with 90% confidence and a 24/7 Wall St. price target of $249.65. The raised FY2027 and FY2028 outlook combined with a 33% pullback has scrubbed froth.
The setup looks constructive if hyperscaler capex commentary holds through Q2 earnings, while a slip in custom ASIC design wins to competitors or tightening China restrictions would challenge the thesis. The risk-reward tilts in favor of longs.
Marvell Price Prediction 2026 to 2030
Here is where the 24/7 Wall St. price target model projects Marvell could trade, assuming the current growth trajectory and multiple hold.
| Year | 24/7 Wall St. Price Target |
|---|---|
| 2026 | $249.65 |
| 2027 | $285 |
| 2028 | $320 |
| 2029 | $355 |
| 2030 | $382.60 |
These projections assume Marvell continues executing on custom XPU wins and optical interconnect leadership. Significant upside or downside could result from hyperscaler capex cycles or a shift in in-house silicon strategy among the top three cloud customers.
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