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Susquehanna analyst Christopher Rolland raised the firm's price target on Marvell to $36 from $35 and keeps a Positive rating on the shares. The analyst noted relatively high expectations heading into its earnings report, but said the company cleared them with strong Q1 results. He also said its guidance cleared the bar as well and that it's 5G product lineup has entered an inflection mode with commentary supporting increased growth into Q3.

JPMorgan analyst Harlan Sur raised the firm's price target on Marvell to $36 from $31 and reiterates an Overweight rating on the shares following the company's Q1 results. Marvell's "solid" design win pipeline in 5G networking and cloud datacenter, combined with new product cycles are driving a strong demand environment and good visibility into the second half of 2020, Sur tells investors in a research note.

Needham analyst N. Quinn Bolton raised the firm's price target on Marvell to $34 from $28 and keeps a Buy rating on the shares after its "solid" Q1 earnings beat. The quarter was driven by the strong Networking demand, which was partially offset by weaker than expected Storage revenue due to COVID-19 related shutdowns, the analyst tells investors in a research note. Bolton further cites Marvell management's outlook anticipating healthy bookings and backlog for its 5G, cloud, and DIY SSD solutions as it forecast sequential growth to continue in Q3 of FY21.

Rosenblatt analyst Hans Mosesmann raised the firm's price target on Marvell Technology Group to $42 from $32 and reiterates a Buy rating on the shares. The company last night reported a "nice beat and raise" with 5G and networking data center strength offsetting supply related weakness in storage, Mosesmann tells investors in a research note. The emergence of the data processing unit in the data center has "significant implications" on how massive data is moved around within a software defined environment, and Marvell's capabilities are "perfectly aligned for the future of cloud architecture trends," says the analyst.

Craig-Hallum analyst Christian Schwab lowered the firm's price target on Marvell to $30 from $37 and keeps a Buy rating on the shares. Schwab says the company is well-positioned for solid multi-year growth as an enabler of multiple key mega trends in datacenter, 5G, and automotive.

Citi analyst Atif Malik reiterates Marvell Technology Group as his number one pick in specialty semiconductors following last night's "beat and raise" quarter. The analyst sees multiple catalysts in the second half of 2020, including broadening of 5G customers as Nokia joins Samsung, data center networking design wins, and a next generation gaming console storage ramp. Increasing sales diversification from 5G networking, data center, and auto will help expand Marvell's "storage oriented historical P/E multiple over time," Malik tells investors in a research note. The analyst keeps a Buy rating on the shares with a $35 price target.

Oppenheimer analyst Rick Schafer raised the firm's price target on Marvell Technology Group to $35 from $30 and keeps an Outperform rating on the shares. The analyst raised estimates after the company reported a "solid beat/raise" quarter. Schafer estimates 5G RAN can add $2B to Marvell's topline over the next three to four years on higher content and share gains. Further, storage revenue is expected to recover in fiscal Q2, adds the analyst, who says Marvell remains his top 5G RAN play.