By Anita Hamilton

While chip makers Intel and Micron have been getting all the love in recent days, Marvell got a nice bounce Wednesday after analysts at BofA and Goldman Sachs raised their price targets for it.

Marvell shares closed up 8.2% to $177.95, for a new record high. The stock is up more than 100% in 2026 on high demand for its chips and partnerships with Big Tech hyperscalers like Amazon and Microsoft. It has had 12 record closes in 2026, with the last one on May 6.

The maker of custom chips for artificial intelligence and optical-networking products looks well-positioned heading into its May 27 earnings, Goldman Sachs analysts wrote in a Wednesday note. A potential partnership with Google, higher capital spending by hyperscalers, and a stronger outlook for its optical networking business "should drive upside to the datacenter business," they added.

They also raised their 12-month price target to $125, up from the previous $100, while maintaining a Neutral rating.

Analysts at BofA were even more optimistic, raising their price target to $200 from $125 and calling Marvell a "top pick." While they also cited growth in Marvell's optical networking unit, they called out broad demand for the firm's custom chips and its conservative estimate for the ramp up of its deal with Microsoft to make such chips for its Azure cloud computing business.

All that makes the future look bright for Marvell, at least for now.

Write to Anita Hamilton at anita.hamilton@barrons.com

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May 13, 2026 18:16 ET (22:16 GMT)

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