On September 29, Marvell Technology rose 3.66% in regular trading, trading at $260.85/share with turnover of $510 million, rebounding sharply after a nearly 4% decline in the prior session.

On the news front, UBS raised its price target on Marvell Technology from $310 to $335 while maintaining a Buy rating. Separately, RBC Capital Markets issued a preview note ahead of Marvell's October 6 investor day, highlighting the company as one of the few semiconductor names with revenue acceleration potential in both 2027 and 2028. RBC analysts expect management to raise its 2028 AI revenue forecast by at least $2 billion from the prior $10 billion-plus target to over $12 billion, with the custom chip collaboration with Alphabet projected to contribute approximately $1 billion in revenue by 2028.

Within the Semiconductors sector, individual stocks showed mixed performance. NVIDIA up 0.56%, Micron Technology up 0.56%, Intel down 1.17%, Advanced Micro Devices up 0.35%, Broadcom up 2.85%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)