On September 22, Marvell Technology rose 3.1% in regular trading, trading at $265.38 per share, with turnover of $3.703 billion. The stock was lifted by a convergence of multiple catalysts including an expanded partnership with AT&S and continued momentum from its breakthrough 2nm optical interconnect technology.

On the news front, Marvell Technology and AT&S announced an expanded collaboration under which AT&S will increase integrated circuit substrate capacity at its Kulim, Malaysia facility to meet surging demand from AI and cloud infrastructure applications. No financial details were disclosed. Meanwhile, the options market registered two large bullish call orders totaling over $1 million, targeting strike prices of $280 and $320 with an October expiration, signaling clear directional bullish conviction from institutional traders.

Additionally, in the prior session, Marvell demonstrated the industry's first 2nm-based single-lane 400G optical interconnect technology at the European Conference on Optical Communication, designed to support AI data center network upgrades from 1.6T to 3.2T and beyond by boosting bandwidth density while reducing per-bit power consumption. Morgan Stanley concurrently raised its price target on the stock to $268 from $246, maintaining an Equalweight rating. According to FactSet, the average analyst target stands at $294.52 with a consensus Buy rating.

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