- Needham analyst N. Quinn Bolton raised the price target on Marvell Technology Inc (NASDAQ:MRVL) to $115 from $110 and reiterated a Buy. The price target implies a 30.9% upside.
- Marvell is Needham’s top pick for 2022 within semiconductors.
- Related Content: Read Why Nvidia, AMD, Taiwan Semiconductor And Other Chip Stocks Gained Steam
- Bolton estimates Marvell will organically grow revenue by more than 30% in CY22 and by ~20% in CY23, the fastest growth amongst its large-cap peers.
- New design wins for its 5-nm platform, market share gains, and increasing supply from its major wafer foundry, substrate, and assembly and test partners will likely drive the growth, Bolton contended.
- Marvell Technology is a fabless chipmaker focused on networking and storage applications.
- Price Action: MRVL shares traded lower by 1.75% at $87.87 on the last check Tuesday.
Netflix on Saturday Announced Partnership with Ubisoft to Create Three Exclusive Mobile Games for Members Around the World from 2023
Netflix and Ubisoft are announcing plans to create three mobile games from some of the world's most beloved game franchises to Netflix, starting in 2023.
