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Benchmark Is Bullish On Marvell Citing Its Lead In Infra Tech

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  • Benchmark analyst Cody Acree assumed coverage of Marvell Technology, Inc (NASDAQ: MRVL) with a Buy rating and a $70 price target (35% upside).

  • Marvell has been a transition story over the past several years under the guidance of an essentially new management team.

  • According to Acree, Marvell's primary focus is becoming a leader in "attractive" infrastructure end markets, which now account for 88% of total revenue.

  • He believes increased exposure to high-value growth markets within the infrastructure segments should lead to multiple expansions.

  • MRVL's leading-edge solutions were the essential building blocks of infrastructure technology.

  • With the industry's most advanced infrastructure offerings, he saw Marvell set to be a significant beneficiary of the industry's overarching theme of hyper-scaling.

  • Meanwhile, the wireless infrastructure revolution continues its rapid rise toward 5G, and Marvell offers speed and security to networks without compromise.

  • There are four significant sub-markets that Marvell serves within the cloud, and each has a cloud strategy, he added.

  • Price Action: MRVL shares traded lower by 5.22% at $51.72 on the last check Friday.

Latest Ratings for MRVL

Date

Firm

Action

From

To

Mar 2022

Susquehanna

Maintains

Positive

Mar 2022

Summit Insights Group

Downgrades

Buy

Hold

Mar 2022

Morgan Stanley

Maintains

Equal-Weight

View More Analyst Ratings for MRVL

View the Latest Analyst Ratings

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