Morgan Stanley Raises Marvell (MRVL) PT, Keeps Equalweight Rating

Marvell Technology, Inc. (NASDAQ:MRVL) is one of the 11 Best Under-the-Radar Stocks to Buy Right Now. On July 30, Morgan Stanley increased its price target for Marvell Technology, Inc. (NASDAQ:MRVL) from $73 to $80 while keeping an Equalweight rating.

The firm believes that Marvell Technology, Inc. (NASDAQ:MRVL) is “firmly in the AI winners camp,” despite the market sentiment turning “aggressively negative” compared to a few months ago.

Morgan Stanley has a positive outlook for Marvell Technology, Inc.’s (NASDAQ:MRVL) opportunity in optical technology. The investment firm believes this area provides higher margins and more durability compared to the ASIC opportunity available to the company.

Morgan Stanley pointed out that the company’s ASIC business has been disappointing. Instead, the firm is more positive about the optical segment.

Marvell Technology, Inc. (NASDAQ:MRVL) is an American company that makes semiconductors and related technology for various applications, including AI, data centers, computing, networking, and storage infrastructure.

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Disclosure: None. This article is originally published at Insider Monkey.