Marvell (MRVL) Gains Analyst Support Ahead of Earnings; Target Lifted to $86

Marvell Technology, Inc. (NASDAQ:MRVL) is one of the Buzzing AI Stocks on Wall Street. On December 1, Morgan Stanley reiterated the stock as “Equal Weight” and raised its price target on the stock ahead of earnings on Tuesday to $86 per share from $76.

"We expect strength in optical to continue, and are hopeful that the expectations shortfalls on Trainium are behind us."

On the same day, shares of the stock rose after the company announced an expanded collaboration with Microsoft to extend cloud security services in Europe. These services will be powered by Marvell LiquidSecurity hardware security modules (HSMs), adding to existing cloud-based security offerings in Asia and North America.

“Marvell has been the pioneer in cloud-based HSMs and remains the industry leader. Common Criteria EAL4+ and eIDAS certifications represent the latest steps by Marvell in forging a more diverse and larger market for HSM services.” -Michela Menting, senior research director at ABI Research.

Marvell Technology, Inc. (NASDAQ:MRVL) engages in the development and production of semiconductors, focusing heavily on data centers.

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