Reported 15 days ago
On October 1, Stifel raised its price target for Marvell Technology, Inc. (NASDAQ:MRVL) from $80 to $95 while maintaining a Buy rating, citing significant growth in its optical business following the Inphi acquisition, which has skyrocketed annual revenues from $800 million to approximately $3 billion. The successful acquisition of Innovium has also exceeded expectations, generating double the anticipated $150 million in revenue. Marvell's custom silicon business is experiencing unprecedented design engagement, with over 50 new opportunities forecasted to yield around $75 billion in potential revenue.
Source: YAHOO