Marvell (MRVL) shares pushed meaningfully higher on Friday after the semiconductor firm cited strong artificial intelligence (AI) demand as it posted a market-beating Q4 and issued impressive guidance for the current quarter.
As the Q4 release attracted retail and institutional interest to MRVL, the chip stock rallied past its key moving averages (MAs) on March 6, reinforcing that the momentum has turned positive.
Versus its 52-week low, Marvell stock is now up about 80%, but Craig Hallum analysts believe it could rip much higher from here through the remainder of 2026.
Marvell sees its revenue coming in at $2.4 billion in the current quarter (up 27% year-over-year) and its growth rate accelerating in each of the remaining three quarters of its fiscal 2027.
This immense visibility into future sales made Craig Hallum lift its price objective on MRVL stock to $164, indicating potential upside of a 80% from here. According to the investment firm, broad-based data center growth and accelerating artificial intelligence revenue justifies Marvell’s earnings multiple, which currently sits at about 29x forward earnings.
Despite today’s rally, MRVL’s relative strength index (14-day) sits at about 66 currently, signaling the bullish momentum remains far from exhaustion.
MRVL’s dominant optical interconnects (1.6T) and custom AI silicon programs with hyperscalers drove record design wins in Q4.
Craig Hallum analysts remain bullish on Marvell shares because the firm’s recent acquisitions (Celestial AI and XConn) underscore a strategic “land grab” in scale-up networking — the plumbing that allows thousands of GPUs to talk to one another.
With custom sales scaling from near-zero to $1.5 billion in a single year and bookings accelerating at a record pace, the company is no longer just a peripheral player but a central architect of the AI era.
Its structural shift toward high-margin, sticky data center sales provide a multi-year growth runway that makes the stock a compelling buy for long-term investors.
