Marvell Technology has increased its fiscal year 2028 revenue target to $20 billion, fueled by accelerating opportunities in AI connectivity and custom silicon. The company expects data center revenue to reach $18 billion by FY28, with key growth in connectivity, optics, and a ramp-up in custom silicon thereafter. Operating margins are projected to improve to 44%-46% by FY31, alongside a free cash flow margin above 36%, supporting substantial shareholder returns. This outlook has led to a strong buy rating and an increased price target of $375-$380, reflecting Marvell's strategic positioning in AI infrastructure.
Marvell Technology shares trade at USD 260.00 on Pluang as of Oct 13, 2026, 22:02 WIB, down 2.20% for the day and below their 52-week high of USD 316.43. Despite the recent dip, the stock remains well above its 52-week low of USD 73.73, reflecting strong investor interest with 58% of Pluang orders buying. The market cap stands at $238.93 billion, indicating substantial scale in the tech sector compared to its ambitious revenue targets.
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