KeyBanc Raises Marvell Technology Price Target to $385

KeyBanc raised its price target on Marvell Technology, Inc. (NASDAQ: MRVL) to $385 from $260 on June 18, while maintaining an Overweight rating on the stock. The upgrade follows KeyBanc hosting meetings with Marvell's management, which reinforced the bank's positive outlook.

Rating Change

• Previous Price Target: $260
• New Price Target: $385
• Rating: Overweight The new target represents an approximately 48% increase from the previous level.

Analyst Rationale

KeyBanc believes Marvell is well-positioned to benefit from growing demand for AI memory, particularly as data centers expand and AI applications proliferate. Analysts noted that the company's custom silicon and networking solutions for AI infrastructure will be key growth drivers in the second half of 2026.

Context

Marvell is considered one of the best AI memory stocks to buy in 2026, according to Insider Monkey. The stock is trading near its all-time highs, with expectations of record revenue in the upcoming quarter. Other analysts, including those at Morgan Stanley and Goldman Sachs, also have positive ratings, with price targets ranging from $350 to $400.

What This Means for Investors

The price target hike reflects KeyBanc's confidence in Marvell's growth trajectory fueled by AI demand. However, investors should monitor risks such as a slowdown in data center spending or competition from NVIDIA and Broadcom. The final decision depends on individual risk tolerance and investment goals.