Marvell Technology rises after Barclays upgrades to 'overweight'

ReutersApr 9, 2026 12:48 PM

Chipmaker Marvell Technology's MRVL.O shares rise 4.8% to $119.82 premarket

Barclays upgrades MRVL from "equal weight" to "overweight" and raises its price target from $105 to $150, which implies 31% upside from stock's last close

Brokerage cites strong growth in co's optical networking business driven by AI data center buildouts

Marvell is first and foremost an optical company, Barclays says

"Industry checks suggest optical ports should double in 2026 and double again in 2027. Our math implies that Optical could grow ~90% for MRVL this year and next."

37 of 44 brokerages rate the stock "buy" or higher, seven "hold"; their median PT is $120

Up to Wednesday's close, stock had risen about 35% YTD compared with a 20.2% increase in the Philadelphia SE Semiconductor index .SOX

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