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Series of events · Marvell
Marvell outlines AI growth and acquisition talks
Marvell detailed long-term revenue targets and is reportedly nearing a deal to buy Lumentum.
Updated
The flow in 3 points
- Marvell targets $70 billion to $90 billion revenue by 2031
- Data-center sales projected to top $30 billion by 2028
- Marvell reportedly nearing deal to acquire Lumentum
What happened, in order
Times are Eastern-
Where it began
Market size set
Marvell CEO Matt Murphy said the company views a $400 billion total addressable market by 2030 during an investor day event.
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Upgrade and target
TD Cowen upgraded Marvell to Buy and raised its price target to $350 from $245, citing stronger AI connectivity demand.
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Revenue framework
Marvell outlined a $70 billion to $90 billion revenue framework for fiscal 2031, while Jefferies set a $450 price target.
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Data center sales
Marvell CEO Matt Murphy stated that projected data-center sales might surpass $30 billion by 2028, driven by AI infrastructure demand.
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Summit showcase
Marvell plans to present its latest AI data center hardware at the OCP Global Summit from October 12 to 15.
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Latest
Acquisition talks
Marvell Technology is said to be in late-stage negotiations to purchase Lumentum Holdings, according to reports.
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How they connect
Marvell first defined its long-term market opportunity and revenue targets, followed by analyst price target updates. The company then planned to showcase its hardware before reports emerged of acquisition talks with Lumentum.
What to watch
- OCP Global Summit from October 12 to 15
- Fiscal 2031 revenue framework of $70 billion to $90 billion
The stocks in this series
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