Marvell Technology Q2: Ramping Up Electro-Optics And Custom Silicon In H2

JHVEPhotoI initiated a ‘Buy’ rating for Marvell Technology (NASDAQ:MRVL) in June 2024, based on the thesis of fast growth in AI revenues from optics and custom ASIC. Marvell announced their Q2 result on August 29th after the bell, with an upbeat outlook for Q3. Notably, their data center business grew by 92% year-over-year. I reiterate a ‘Buy’ rating with a one-year price target of $90 per share. Ramping Up Electro-Optics & Custom Silicon My biggest takeaway from the quarter is Marvell’s strong growth i ...