On August 20, Marvell Technology rose 3.67% in regular trading, trading at $238.72/share, with turnover of $758 million, recovering from a pre-market decline of approximately 3% triggered by profit-taking.

On the news front, UBS raised its price target on Marvell Technology from $300 to $310, maintaining a buy rating, reinforcing bullish sentiment following the company's landmark partnership with Google. Marvell disclosed via SEC filing that it signed a binding commercial agreement with Google on July 29 to co-develop custom semiconductor products spanning AI, storage, and networking chips, including a TPU and a memory processing unit. Concurrently, Marvell issued warrants granting Google the right to purchase up to 58.97 million shares at $206.58 per share, representing approximately $12.2 billion in potential equity value. The stock had surged over 10% in the prior session on the partnership announcement. Wall Street analysts broadly characterized the deal as a significant long-term positive for Marvell, with the FactSet consensus target standing at $268.57.

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