(Updates)
** Shares of chipmaker Marvell Technology soar 21.3% to $116.35
** Stock touch an all-time high in day trading
** Co on Tuesday forecast Q4 rev. of $1.8 bln, plus or minus 5%, vs estimates of $1.65 bln - data compiled by LSEG
** Posted Q3 rev. of $1.52 bln, beating estimates of $1.46 bln, on strong demand for its custom AI chips; data center revenue doubled to $1.10 bln
** Q3 adjusted EPS of 43 cents topped estimates of 41 cents
** At least 18 brokerages raise PT on the stock
** "Marvell is capitalizing on a massive artificial intelligence chip opportunity with a burgeoning custom accelerator portfolio and a dominant optical chip position" -Morningstar
** Other chip stocks also rise tracking MRVL's gains
** NVIDIA up 1.9%, Broadcom rises 0.6%, Monolithic Power Systems gains 1%
** Amkor Technology gains 1%, while GlobalFoundries
up 1.12%
** Overall Philadelphia SE semiconductor index rises 1.6%
** Including session's move, MRVL up 93.5% YTD vs Philadelphia SE semiconductor index's gains of 22.6%
(Reporting by Kritika Lamba and Ragini Mathur in Bengaluru)
((Kritika.Lamba@thomsonreuters.com))
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