Marvell Technology Hits New 52-Week High as Wall Street Lifts Price Targets on AI Optimism

Shares of Marvell Technology (NASDAQ: MRVL) surged to a new 52-week high on Wednesday, climbing more than 8% to $177.95, as bullish calls from Bank of America and Goldman Sachs underscored growing confidence in the chipmaker’s AI-driven growth story.

Bank of America analyst Vivek Arya led the charge, raising his price target on Marvell to $200 from $125 while maintaining a Buy rating — representing upside of more than 12% from current levels.

Arya updated the firm’s calendar year 2030 AI data center systems total addressable market outlook to approximately $1.7 trillion, up from a prior estimate of $1.4 trillion.

BofA said 2026 would continue to be a year of accelerating AI sales and returns on investment, with 2027 potentially seeing improving tokenomics and efficiency as next-generation compute and memory systems ramp up.

Goldman Sachs also raised its price target on Marvell, lifting it to $125 from $100, though analyst James Schneider maintained a Neutral rating on the shares. Schneider noted that investors are likely to focus on upside in Marvell’s datacenter business, driven by rising hyperscaler capital expenditure, strength in optical networking, and a potential new Google ASIC partnership.

He cautioned, however, that expectations are already elevated ahead of upcoming results, with room for higher 2026–2027 revenue growth guidance already priced in.

The stock’s strong move higher also comes amid broader semiconductor sector tailwinds, as optimism around U.S.–China trade talks lifted chip names across the board. Marvell is scheduled to report earnings on May 27.