Movement Alert｜Marvell Technology Rises 3.43% in Regular Trading, Multiple Investment Banks Raise Target Prices Boosting Rebound

Market Focus06-30 21:53

On June 30, Marvell Technology rose 3.43% in regular trading, trading at $287.96/share, with turnover of $11.88 billion. The stock rebounded sharply after multiple top-tier investment banks raised their target prices in rapid succession.

On the news front, UBS significantly raised its target price from $230 to $340 while maintaining a Buy rating, citing strong long-term growth prospects for the company's CXL chip business, with projected CXL revenue reaching $20 billion by 2028. Bank of America Securities raised its target from $240 to $365, and Stifel lifted its target from $321 to $350. UBS also revised total revenue forecasts to $16.8 billion and $23.9 billion for fiscal 2027 and 2028, respectively, driven by XPU connectivity and CPU business increments.

The broader semiconductor sector provided tailwinds, with the Philadelphia Semiconductor Index rising 1.9%. Options market sentiment also turned bullish, with a notable $749,700 call order targeting the $300 strike price, reflecting directional conviction to the upside. The stock had previously corrected over 20% in the prior week before this rebound.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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