MRVL

Marvell Technology Inc

TMT


Presented:01/29/2024
Price:$70.14
Cap:$60.64B
Current Price:$79.41
Cap:$68.78B

Presented

Date01/29/2024
Price$70.14
Market Cap$60.64B
Ent Value$44.76B
P/E RatioN/A
Book Value$17.63
Div Yield0.34%
Shares O/S864.50M
Ave Daily Vol10,633,619
Short Int2.79%

Current

Price$79.41
Market Cap$68.78B
Marvell Technology, Inc. engages in the provision of data infrastructure semiconductor solutions. It offers compute, networking, storage, and custom solutions. The firm designs, develops, and sells integrated circuits. The company was founded by Wei Li Dai, Pantas Sutardja, and Sehat Sutardja in 1995 and is headquartered in Wilmington, DE.

Publicly traded companies mentioned herein: Alphabet Inc (GOOGL), Amazon.com Inc (AMZN), Broadcom Inc (AVGO), Marvell Technology Inc (MRVL), NVIDIA Corp (NVDA)

Highlights

The presenter is long shares of Marvell Technology Inc (MRVL), seeing significant upside despite the run-up from sub-$40 in early 2023 to the current $70 per share. His bullish outlook stems from its optical networking business that should grow with AI, poorly performing segments (enterprise networking & carrier infrastructure) bottoming, and underappreciated upside in the custom ASIC business. As such, he models $5 of FY2026 EPS (vs. consensus $2.79), which leads to a $100 – $125 price target using a 20x – 25x earnings valuation. 

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Idea Discussion

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