Marvell Technology's stock fell 5.01% in overnight trading, reflecting a 24-hour plunge for the chipmaker.
The decline comes amid a broad sell-off in chip and storage stocks, with sector peers showing significant losses during the same trading session.
Notably, the drop occurred despite TD Cowen raising its price target on Marvell Technology to $180 from $90, suggesting the stock is being weighed down by sector-wide weakness rather than company-specific concerns.
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