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Summary

After a 138% rally since my previous article, Marvell is rated 'Hold' with a fair value estimate of $132, about 20% below the current price.

Marvell's investment thesis is driven by data center growth, strategic acquisitions (Celestial AI, Xconn, Polariton), and key partnership with Nvidia.

Management guides to >30% revenue growth in FY27 and FY28, led by 40–50% data center segment expansion and new custom chip wins.

I trimmed my position around fair value, I plan to sell covered Calls near $165–$170 and to fully exit above ~$204, or replenish below ~$109, considering today's fair value.

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Article Thesis

I wrote about Marvell Technology, Inc. ( MRVL ) in the middle of September. With the stock around $69, I saw it as a “Buy,” and I initiated a half position, followed by another quarter at $77.4.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of MRVL either through stock ownership, options, or other derivatives.…