Marvell Technology Inc. (MRVL:NASDAQ) recently held an event in New York focused on their accelerated AI infrastructure, which garnered significant attention and interest from attendees, noted Roth MKM analyst Suji Desilva in an April 12 research note.
"We attended MRVL's accelerated AI infrastructure day event in New York, where interest in the company’s AI overview was very strong," Desilva commented.
Desilva wrote that the company's strategic acquisitions in the technology sector have positioned them well to capitalize on the growing demand for AI infrastructure. Desilva continued stataging that Marvell's comprehensive portfolio, which includes compute, networking, and storage IP and products, makes its stock an attractive option for investors looking to benefit from the expected growth in AI infrastructure over the coming years.
As for the growth of AI product lines, Desilva said, "We expect very strong growth in MRVL’s custom accelerator products, where management estimates the market opportunity can grow at a CAGR 30% and represents US$20+bn in the next several years."
With this, Desilva maintained their Buy rating and US$95 price target on the stock.
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Disclosures for Roth MKM, Marvell Technology Inc., April 12, 2024
Regulation Analyst Certification ("Reg AC"): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.
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