Marvell stock in focus after RBC starts coverage with Outperform, $105 target
RBC Capital Markets started coverage of Marvell Technology with an Outperform rating and a $105 price target. Marvell shares fell 2.2% to $81.21 Wednesday as chip and tech stocks dragged the Nasdaq down 1%. The company recently announced plans to acquire XConn Technologies for $540 million and Celestial AI for up to $3.25 billion, both expected to close in 2026.