Marvell Stock (NASDAQ:MRVL) Price Target Raised to $100

Marvell's stock (NASDAQ: MRVL) has been given a boost as Susquehanna analyst Christopher Rolland raised the firm's price target on the stock to $100 from $80, reaffirming a Positive rating. This adjustment reflects growing confidence in Marvell's strategic positioning and anticipated financial performance, particularly its strength in the data center market and custom ASIC solutions.

The shift to the upside will come as welcome news to MRVL bulls who have seen the stock drop 26.22% since the start of the year, massively underperforming peers.

Marvell's financial performance has been significantly boosted by the growth in its data center segment. In the second quarter of fiscal year 2026, the company reported record revenue of $2.006 billion, a 6% sequential increase and a substantial 58% year-over-year growth. Data center revenue surged by 69% year-over-year, accounting for 74% of total revenue. This growth is attributed to strong demand for custom AI silicon and electro-optics products, indicating a successful strategic focus.

Marvell has actively expanded its custom silicon portfolio, engaging in over 50 active AI opportunities across more than 10 major customers. This surge in activity represents the highest level of AI engagement in the company's history.

The company's data center revenue growth is primarily fueled by strong AI demand for custom silicon and electro-optics products. Management's intra-quarter commentary suggests additional data center upside in 2026, indicating a sustained growth trajectory.

Despite the positive sentiment, Marvell faces challenges in a competitive market. In August, the company's stock experienced a decline due to a weaker-than-expected data center demand outlook, raising concerns about the AI chip market's momentum.

Marvell's strategic focus on AI-driven custom silicon and data center solutions has positioned the company for significant growth. Analyst upgrades and strong financial performance underscore confidence in Marvell's trajectory, though the company must navigate competitive pressures and market dynamics to sustain its momentum.