Investing in artificial intelligence (AI) stocks has proven to be lucrative over the past year, with companies like Nvidia and Super Micro Computer Inc experiencing substantial gains. However, analysts at B Riley Securities are calling attention to a potentially overlooked gem in the AI sector.
They are placing their bets on Marvell Technology Inc ahead of the company’s upcoming NYC AI Era event on April 11. With a $95 per share price target and a Buy rating, B Riley Securities believes there is a potential 30% upside for investors.
The investment bank noted Marvell’s history of meeting or exceeding product release timing and sales growth targets. Despite some recent concerns in late March, B Riley remains optimistic about Marvell’s ability to address potential challenges.
In anticipation of the event, B Riley expects a focus on Data Center AI and Auto product cycles, driving significant growth opportunities for Marvell. They anticipate that investors will gain a clearer understanding of the company’s growth drivers and the potential for sales to reach $9.0B to $10.0B in the long term.
Other firms, such as Citi, have also expressed bullish sentiments towards Marvell. Citi highlighted an 18% valuation discount compared to AI peers and identified key areas where Marvell could excel in the AI market.
As the AI industry continues to evolve, Marvell Technology Inc stands out as a promising player to watch. With the upcoming NYC AI Era event and positive outlook from analysts, investors may find valuable opportunities in this forgotten AI stock.
Frequently Asked Questions (FAQs) Related to the Above News
What is the upcoming event that Marvell Technology Inc is hosting?
Marvell Technology Inc is hosting the NYC AI Era event on April 11.
What is the price target and rating given to Marvell Technology Inc by B Riley Securities?
B Riley Securities has a $95 per share price target and a Buy rating for Marvell Technology Inc.
What growth opportunities are B Riley Securities anticipating for Marvell at the NYC AI Era event?
B Riley Securities expects a focus on Data Center AI and Auto product cycles, driving significant growth opportunities for Marvell.
What is the potential upside for investors in Marvell Technology Inc according to B Riley Securities?
B Riley Securities believes there is a potential 30% upside for investors in Marvell Technology Inc.
What concerns have been addressed by B Riley Securities regarding Marvell's recent performance?
Despite some recent concerns in late March, B Riley Securities remains optimistic about Marvell's ability to address potential challenges.
What is the long-term sales potential that B Riley Securities anticipates for Marvell Technology Inc?
B Riley Securities anticipates potential for sales to reach $9.0B to $10.0B in the long term for Marvell Technology Inc.
What discount compared to AI peers did Citi highlight for Marvell Technology Inc?
Citi highlighted an 18% valuation discount compared to AI peers for Marvell Technology Inc.
Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.
