Marvell Technology jumps to over one-year high after Barclays upgrades to 'overweight'

ReutersApr 9, 2026 2:01 PM

Marvell Technology MRVL.O shares rise 3.6% to $118.45, their highest since February 7, 2025

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

Brokerage cites strong growth in firm's optical business driven by AI data center buildouts, says MRVL is first and foremost an optical company

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 - Barclays

Stock rated "buy" or higher by 37 of 44 brokerages, "hold" by seven; median PT is $120

Including session's moves, stock has jumped about 40.5% YTD compared with a 21.8% increase in the Philadelphia SE Semiconductor index .SOX

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