Key Stats for Marvell Technology Stock
- YTD price change for Marvell Technology stock: 123%
- $MRVL Share Price as of May. 27: $199
- 52-Week High: $218
- $MRVL Stock Price Target: $162
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What Happened?
Marvell Technology (MRVL) stock is moving higher after HSBC upgraded shares from Hold to Buy and raised its price target from $85 to $300. That new target implies roughly 53% upside from current levels — a bold call on a stock that has already gained more than 200% over the past year.
The upgrade comes down to one core argument: Marvell’s AI opportunity is being underestimated. HSBC specifically pointed to the company’s optical interconnect products and its CXL memory attachment portfolio as two areas where revenue surprises could be significantly above what the market currently expects.
To reflect this, HSBC increased its earnings estimates for fiscal years 2027 and 2028 by 21% and 61%, respectively. The firm now expects Marvell to earn $4.07 per share in fiscal 2027 and $7.12 in fiscal 2028.
The $300 price target is based on 42 times that fiscal 2028 estimate.
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What the Market Is Telling Us About Marvell Technology Stock
Marvell Technology stock is trading near an all-time high, and analysts are broadly bullish. Alongside the HSBC upgrade, Susquehanna raised its target to $230, Stifel raised its target to $210, and Oppenheimer raised its target to $200.
The consensus is building around the same theme — Marvell’s data center business is accelerating faster than expected.
The Q1 fiscal 2027 earnings report backs that up.
- Revenue came in at a record $2.42 billion, up 28% year-over-year.
- Data center revenue of $1.83 billion accounted for 76% of total revenue and grew 11% sequentially.
- The company guided Q2 revenue to $2.7 billion — double-digit sequential growth for another quarter.
- Management also significantly raised full-year and multi-year revenue targets.
- Marvell now expects fiscal 2027 revenue of nearly $11.5 billion, up roughly 40% year-over-year, with data center revenue growing around 50%.
- For fiscal 2028, the company is projecting roughly $16.5 billion in revenue — about $1.5 billion higher than the outlook provided just last quarter.
The drivers are real. Optical interconnect revenue growth was raised to over 70% for fiscal 2027, up from a prior target of 50%.
The custom chip business — which includes AI accelerators built for hyperscalers — is expected to more than double in fiscal 2028. Marvell has also announced an expanded partnership with NVIDIA covering silicon photonics, NVLink integration, and AI-RAN applications.
Marvell Technology stock has earned its rally. The question now is whether the next leg of growth — in scale-up networking, CXL memory, and co-packaged optics — is still being underpriced by the market. HSBC clearly thinks it is.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
