Shares of Marvell ( MRVL ) rose on Friday after the semiconductor company pointed to strong artificial intelligence (AI) demand as it posted a market-beating Q4 and issued impressive guidance for the current quarter.
As the Q4 release drew retail and institutional interest to MRVL, the chip stock broke through its key moving averages (MAs) on March 6, reinforcing that momentum has turned positive.
Against its 52-week low, Marvel stock is now up about 80%, but analysts at Craig Hallum believe it could go much higher from here through the rest of 2026.
Marvell sees its revenue reaching $2.4 billion in the current quarter (up 27% year-over-year) and its growth rate accelerating through the remaining three quarters of fiscal 2027.
This broad view on future selling has led Craig Hallum to raise his price target on MRVL stock to $164, indicating a potential upside of 80% from here. Broad-based data center growth and accelerating artificial intelligence revenue justify most of Marvell’s earnings, which currently sit at about 29x forward earnings, according to the investment firm.
Despite today’s rally, the MRVL Relative Strength Index (14-day) is currently sitting around 66, indicating that bullish momentum remains far from exhausted.
MRVL’s dominant optical connections (1.6T) and custom AI silicon programs with hyperscalar achieved record design success in Q4.
Analysts at Craig Hallum remain bullish on Marvell shares because the company’s recent acquisitions (Selecial AI and XConn) signal a strategic “land grab” in scale networking — the plumbing that allows thousands of GPUs to talk to each other.
With custom sales from nearly zero to $1.5 billion a year and accelerating bookings at record speeds, the company is no longer just a peripheral player but a central architect of the AI era.
Its structural shift toward higher-margin, sticky data center sales provides a multi-year growth stream that makes the stock a worthwhile buy for long-term investors.
(tags translation)Craig Hallam
