Shares of Marvell Technology Inc (NASDAQ:MRVL) rallied in early trading on Friday, after the company reported strong fourth-quarter (Q4) results.

Here are the key analyst insights:

• BofA Securities analysts upgraded the rating from Neutral to Buy, while raising the price target from $90 to $110.
• Goldman Sachs analyst James Schneider reiterated a Neutral rating, while lifting the price target from $90 to $100.
• JPMorgan analyst Harlan Sur maintained an Overweight rating, while raising the price target from $130 to $135.
• Rosenblatt Securities analyst Kevin Cassidy reaffirmed a Buy rating, while lifting the price target from $115 to $140.

Check out other analyst stock ratings.

BofA Securities: Analysts said in the upgrade note that Marvell's earnings call inspired greater confidence in:

• The company’s "solid leverage to AI optical connectivity"
• Potential for success in Microsoft Corp's (NASDAQ:MSFT) upcoming custom chip (XPU) program
• Turning the corner on Amazon.com Inc (NASDAQ:AMZN) XPU transition year

The analysts raised their sales estimates for fiscal 2027 and 2028 by 8% and 12% and pro-forma earnings estimates by 15% and 12% to $3.82 per share and $5.43 per share, respectively. (+42% YoY).

"Addition of Celestial AI positions the company well for the upcoming CPO transition in CY28/beyond," they further wrote.

Goldman Sachs: Marvell reported revenue of $2.22 billion and operating earnings of 80 cents per share, broadly in-line with consensus estimates of $2.20 billion and 79 cents per share, Schneider said. The company's Data Center revenue came in at $1.65 billion, versus Street expectations of $1.64 billion.

With an improving outlook for its Data Center business, Marvell guided to fiscal 2027 total revenue at $11 billion. That’s 30% growth, the analyst stated. This is driven by 40% growth in Data Center and 10% growth in Communications and Other.

JPMorgan: Accelerating data center demand drove Marvell Q4 results. Sur noted “growth across all key product lines—and continued gradual recovery in Communications and Other segments.” The company reported fiscal 2026 revenue of $8.19 billion, representing 42% growth, and non-GAAP earnings of $2.84.

Management guided to fiscal first-quarter revenues up 8% sequentially to $2.40 billion, topping consensus of $2.28 billion, "reflecting sustained strong data center growth," the analyst stated. Similar quarterly growth rates through the year would mean the company exiting fiscal 2027 with revenues of more than $3 billion.

Rosenblatt Securities: Marvell Technology reported total revenue of $2.22 billion, up 7% sequentially and 22% year-on-year, Cassidy said. The Data Center business, which accounts for 74% of total revenue, delivered revenue of $1.65 billion, topping consensus of $1.63 billion, "on strong interconnect demand.”

The Data Center segment surpassed $6 billion in full-year revenue and management guided to sequential growth in the first quarter, the analyst stated. The company raised its revenue estimate for fiscal 2027 from $10 billion to $11 billion, he further said.

MRVL Price Action: Shares of Marvell Technology had risen by 21.19% to $91.72 at the time of publication on Friday.

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