On July 6, Marvell Technology rose 3.27% in regular trading, trading at $253.72/share, with turnover of $456 million. The stock rebounded after several consecutive sessions of significant pullback, supported by a broad semiconductor sector recovery.

On the news front, UBS issued a research note substantially raising Marvell Technology's target price to $340 from $230, maintaining a Buy rating. The firm expressed strong confidence in Marvell's CXL high-speed interconnect business growth prospects, projecting CXL-related revenue to reach approximately $20 billion by 2028. UBS simultaneously raised its total revenue forecast for 2028 to $23.9 billion, providing valuation recovery support. The upgrade highlights Marvell's XPU connectivity-driven CXL revenue trajectory alongside incremental CPU business contributions.

Within the Semiconductors sector, peers rallied broadly, with Broadcom up 5.98%, Advanced Micro Devices up 4.86%, Intel up 3.72%, and Micron Technology up 2.93%.

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