New York, January 5, 2026, 14:40 (EST) — Regular session
- MRVL up about 1.5% after opening sharply higher on an analyst upgrade
- Melius lifted Marvell to “buy” and set a $135 price target, a report said
- Investors eye CEO comments at CES on Jan. 6 and the U.S. jobs report on Jan. 9
Marvell Technology, Inc. shares rose on Monday after Melius Research upgraded the chipmaker, keeping the stock in positive territory after an early spike. The shares were up about 1.5% at $90.69 after opening at $93.08.
The call matters because Marvell sits in the middle of the market’s debate over how long AI-driven data-center spending can stay strong in 2026. The company’s exposure to custom silicon — chips designed to one customer’s specifications — makes its growth outlook especially sensitive to big cloud customers’ buildout pace and product timing.
Investors have a near-term catalyst on Tuesday, when CEO Matt Murphy is scheduled to speak at a JPMorgan CES fireside chat, the company’s investor relations calendar shows. The week also brings the U.S. December jobs report on Friday, and Marvell’s next earnings are expected on March 4, according to Zacks.
Melius analyst Ben Reitzes upgraded Marvell to “buy” from “hold” and set a $135 price target, Barron’s reported. “The lasting power of AI for investors is anyone’s guess,” Reitzes wrote, while pointing to Marvell as an alternative AI play alongside Intel. Barron’s
Marvell last month agreed to buy startup Celestial AI for $3.25 billion, a deal it said would strengthen its push into next-generation AI infrastructure and close in the first quarter of calendar 2026. Reuters reported the deal centers on silicon photonics, which uses light rather than electrical signals to move data and ease connectivity bottlenecks inside large AI systems.
At CES in Las Vegas this week, Marvell said it plans to demonstrate copper and optical interconnect products and its CXL lineup, aimed at meeting rising memory and bandwidth needs in AI servers. CXL, short for Compute Express Link, is a standard designed to help link processors and accelerators to shared memory in data centers.
Technicians say the tape still has work to do. Marvell remains roughly 29% below its 52-week high of $127.48, but it is trading above its 50-day moving average of about $87.60, a level often treated as a near-term support gauge.
The stock’s relative strength stood out in a mixed semiconductor session. The iShares Semiconductor ETF was higher, while Nvidia and Broadcom were down, underscoring how stock picking has started to matter again inside the AI complex.
But the upside case depends on hyperscaler spending staying intact and custom chip programs landing on schedule, an area where delays can quickly push revenue out by quarters. Rate-sensitive growth stocks can also swing sharply around macro data, keeping traders wary of headline risk.
What markets watch next is Murphy’s JPMorgan CES fireside chat on Jan. 6 for any fresh color on custom silicon demand and the Celestial AI timeline, followed by Marvell’s earnings update expected March 4.
