{
  "id": 12605684,
  "title": "Needham raises Marvell stock price target to $400 on data center growth",
  "url": "https://urgent.news/2026/10/07/needham-raises-marvell-stock-price-target-to-400-on-data-center-growth",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-07T10:43:00.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/analyst-ratings/needham-raises-marvell-stock-price-target-to-400-on-data-center-growth-93CH-4936152"
  },
  "original_language": "en",
  "account": "Needham has increased its stock price target for Marvell Technology Inc. (MRVL) to $400, up from $300, while keeping a Buy rating. The company's shares have risen by over 230% in the last year, but analysts at InvestingPro believe the stock may be overvalued at current prices. Marvell is a key player in the Semiconductors & Semiconductor Equipment industry. The price target upgrade comes after Marvell's 2026 Analyst Day in New York City. During this event, the company presented a long-term financial model projecting revenue between $70 billion and $90 billion and non-GAAP earnings per share over $30 in fiscal year 2031. If revenue reaches the midpoint of $80 billion, interconnect is expected to generate around $37.5 billion, custom solutions about $30 billion, switching and storage to reach approximately $10 billion, and communications and other segments to stay flat at around $2.5 billion. Marvell raised its fiscal 2028 revenue forecast to $20 billion from $18 billion, driven by its data center connectivity portfolio. The fiscal 2029 custom revenue target was raised to over $12 billion from approximately $10 billion, thanks to semi-custom and IP-led solutions across various sectors like networking, storage, memory, security, and inference acceleration. Based on its fiscal 2028 non-GAAP earnings per share estimate of $13.00, Marvell's new $400 target translates to about 31 times that estimate.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Investing.com",
        "title": "Wells Fargo raises Marvell stock price target on chip momentum",
        "url": "https://urgent.news/2026/10/07/wells-fargo-raises-marvell-stock-price-target-on-chip-momentum",
        "published": "2026-10-07T09:48:59.000Z"
      },
      {
        "outlet": "CNBC",
        "title": "Marvell just gave a bullish outlook. It led TD Cowen to upgrade the stock",
        "url": "https://urgent.news/2026/10/07/marvell-just-gave-a-bullish-outlook-it-led-td-cowen-to-upgrade-the",
        "published": "2026-10-07T10:54:02.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}