Marvell (MRVL) Wins $90 Target as Data Center Momentum Accelerates

Core Insights - Marvell Technology, Inc. has been identified as a key AI stock, with Goldman Sachs raising its price target from $80 to $90 while maintaining a "Neutral" rating [1] - The company reported record third-quarter revenue of $2.075 billion, surpassing guidance expectations, driven by strong demand for data center products, and anticipates full-year revenue growth exceeding 40% [2] - Marvell's data center revenue is projected to grow 40% year-over-year in CY27, with custom compute revenue expected to double during the same period [3] Financial Performance - Marvell achieved third-quarter revenue of $2.075 billion, exceeding the midpoint of guidance [2] - The company forecasts robust growth for the fourth quarter and a strong finish to the fiscal year, with full-year revenue growth expected to exceed 40% [2] Market Outlook - Demand for Marvell's products is expected to continue accelerating, with an upward revision in data center revenue growth forecasts for the next year [2] - Goldman Sachs noted improved visibility into Marvell's data center momentum, particularly in the custom compute segment [3] Strategic Moves - Marvell's acquisition of Celestial AI is aimed at broadening its product portfolio within the expanding data center market [3]