May 28, 2026
Analyst Bio:
Rosenblatt analyst Kevin Cassidy raised the firm’s price target on Marvell (MRVL) to $240 from $190 and keeps a Buy rating on the shares. Marvell delivered “a somewhat muted beat and raise” as upside was clouded by increased operating expense and share dilution stemming from the Celestial AI acquisition, along with a gross margin headwind in calendar 2027 from the Custom AI ASIC ramp, the analyst tells investors.
