Analysts Bullish on Marvell Technology (MRVL) as Hyperscalers Cloud Demand

Marvell Technology, Inc. (NASDAQ:MRVL) ranks among the best 5G stocks to buy now. On August 25, Oppenheimer’s Rick Schafer reiterated a Buy rating on Marvell Technology, Inc. (NASDAQ:MRVL) with a price target of $95 ahead of its earnings results. Schafer cited Marvell’s solid footing in the technology sector as the reason for his bullish outlook, and he expects the company to outperform consensus estimates. Previously, Schafer listed Marvell among his favorite data center picks.

The analyst believes Marvell Technology, Inc. (NASDAQ:MRVL) would profit as hyperscalers rapidly develop AI and data centers, boosting demand for high-speed connectivity, custom processors, and GPUs.

In addition to Schafer, Susquehanna analyst Christopher Rolland retained his Buy rating for Marvell Technology, Inc. (NASDAQ:MRVL), with a price objective of $90. The analyst anticipates Marvell’s Q2 results to be consistent with expectations.

Marvell Technology, Inc. (NASDAQ:MRVL) has made a name for itself as a leader in the creation of data processing units (DPUs). In 2021, Marvell Technology, Inc. (NASDAQ:MRVL) made major acquisitions, including Inphi and Innovium, in an attempt to increase its global footprint in important industries including 5G, cloud computing, and other business solutions.

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