Marvell Technology Seen Benefiting From Scaling AI Data Center Builds, Oppenheimer Says

MT Newswires Live

Aug 21

Marvell Technology (MRVL) is expected to benefit from scaling data center builds, with AI networking and custom ASIC demand supporting upside to its fiscal Q2 results, Oppenheimer said in a Thursday note.

The firm models 2026 and 2027 EPS of $4.19 and $6.24 and introduced a 2028 sales estimate of $24 billion and EPS estimate of $9.71.

Oppenheimer expects data center revenue to increase 44% year over year in fiscal Q2.

Networking accounts for about half of data center revenue and is being led by PAM4 electro-optics, with interconnect revenue tracking above 70% growth, the report said.

Oppenheimer also expects Microsoft's Maia program to begin shipping late this year and contribute $700 million to 2027 revenue.

Marvell Technology will report fiscal Q2 results on Aug. 27.

The firm maintained its outperform rating on Marvell Technology and raised its price target to $300 from $250.

Price: 236.05, Change: -14.96, Percent Change: -5.96

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