.August 29, 2024 04:00:01 PM

Analysts have set a price target of $90 for Marvell Technology, Inc. (NASDAQ:MRVL), reflecting a positive outlook on its financial performance and growth prospects. The consensus price target for Marvell has increased from $87.41 to $90.25 over the past year, showing growing confidence among analysts. Despite challenges like weak demand and inventory correction, Marvell’s focus on AI and data-center business positions it for potential revenue growth of 15%-20% or higher over the next five years. The company’s strategic positioning in the AI market and custom silicon expertise highlight its potential for significant growth.