Marvell rises after Melius Research upgrades to 'buy'
ReutersJan 5, 2026 12:01 PM
Shares of chipmaker Marvell Technology MRVL.O up about 4% at $92.96 premarket
Melius Research upgrades stock to "buy", raises PT to $135 from $110
Brokerage says co's custom silicon backlog is growing, with revenue expected to double in CY2027 on demand for Microsoft's MSFT.O MAIA chip
Also expects CY2026 revenue to rise about 20%, driven by business from Amazon.com AMZN.O
30 of 44 brokerages rate stock "buy" or higher, 14 "hold"; median PT of $120 - data compiled by LSEG
MRVL fell ~23% in 2025
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