Marvell Technology shares rise after Stifel raises its price target and anticipates a beat-and-raise quarter on May 27.
Marvell Technology (MRVL) saw its price target increased by Stifel, which expects the semiconductor firm to exceed earnings estimates and raise guidance in its upcoming report. The firm’s shares climbed 2.5% in premarket trading Friday.
The upgrade follows expectations of strong performance in Marvell’s fiscal first quarter, with analysts highlighting potential upside in its data center and AI-related segments. The company last reported earnings in February, where it met consensus estimates but provided cautious guidance.
Investors are closely watching the May 27 report for signs of sustained growth amid broader semiconductor demand trends.