Marvell Technology Adds $5 Billion To Share Buyback Plan, Strong Growth Outlook For Datacenter, AI
1. MRVL announced a $5 billion share buyback program amid trading pressure. 2. BofA raised MRVL's price target from $78 to $88, maintaining a Neutral rating. 3. JPMorgan maintains an Overweight rating, with a price target of $120. 4. Management expects growth in AI and datacenter segments by 2026 and beyond. 5. Despite optimism, MRVL's AI growth lags behind peers like AMD and NVIDIA.