NEW YORK, Jan 18, 2026, 18:42 EST — The market has closed.
- Jefferies maintained its buy rating on Marvell, holding the price target at $120 as markets prepare to reopen Tuesday following the holiday break.
- Marvell shares ended Friday slightly higher, up 0.1% to $80.46.
- Traders are gearing up for a packed week of earnings reports alongside new trade developments that might shake risk appetite.
Shares of Marvell Technology, Inc. (MRVL.O) are set to resume trading Tuesday following Jefferies’ decision to maintain a buy rating and a $120 price target on the chipmaker, a Futu News report says. The stock ended Friday at $80.46, edging up 0.1%. (Futu News)
The timing is crucial as the tape has been volatile even without fresh company updates. U.S. stocks closed nearly flat on Friday after a jittery session, while the Philadelphia SE Semiconductor index climbed 1.2%, Reuters reported. Markets will remain closed Monday in observance of Martin Luther King Jr. Day. “Historically the middle part of January tends to be pretty choppy,” noted Bruce Zaro, managing director at Granite Wealth Management. (Reuters)
Trade tensions have flared up again. Reuters reported Sunday that President Donald Trump plans to impose an extra 10% tariff on imports from several European countries beginning Feb. 1. IG analyst Tony Sycamore warned markets are likely to open this week in “risk-off” mode. (Reuters)
Jefferies analyst Blayne Curtis named Broadcom, Nvidia, and Marvell as his top semiconductor picks for 2026, according to Barron’s. He reiterated Broadcom (AVGO) as his “Top Pick” but noted Nvidia (NVDA) now looks undervalued. Curtis held Marvell at a $120 target, lifted Nvidia’s price target from $250 to $275, and kept Broadcom steady at $500. He pointed to Marvell’s AI chip business as a key factor that could expand its customer base. (Barron’s)
Price targets reflect analysts’ predictions for where a stock might land within the next year. Jefferies has set its target at $120, roughly 49% higher than Friday’s closing price. That’s a sizable gap for a stock that tends to move on changes in data-center spending chatter.
Marvell is positioning itself as a major player in AI infrastructure, particularly around networking. On Jan. 6, the company announced plans to acquire networking gear maker XConn Technologies for about $540 million. CEO Matt Murphy called the deal a move toward “a compelling switching platform for accelerated infrastructure,” referring to the critical switches that route data inside data centers. (Reuters)
In November, Marvell struck a $3.25 billion deal to acquire optical networking startup Celestial AI, doubling down on photonics—a technology that uses light to transfer data—as AI demands surge. “We’re going to have a silicon photonics powerhouse at Marvell,” said Murphy. (Reuters)
The company is also part of a wider supply-chain shift away from China. On Friday, Vietnam’s military-controlled Viettel kicked off construction of the nation’s first semiconductor fab. Reuters highlighted Marvell as one of the international chipmakers active in Vietnam’s testing and packaging sector. (Reuters)
But the stock isn’t without vulnerabilities. Marvell goes head-to-head with well-funded competitors — Broadcom peddles custom chips and networking gear, while Nvidia is increasingly integrating networking and systems with its AI processors. Investors have also shown concern over the “lumpiness” in custom ASIC orders, those chips designed for specific tasks, especially from major cloud clients. (Reuters)
Next week promises a mix of influences on chip stocks, even before Marvell’s next report. Netflix will release its earnings on Jan. 20, followed by Johnson & Johnson on Jan. 21. Intel’s results come after the close on Jan. 22 — all key indicators traders watch for clues on tech demand and corporate spending trends. (Netflix)
Marvell’s next major event is its earnings report, scheduled for March 4, 2026, according to Nasdaq’s calendar—though the company itself hasn’t confirmed the date. The real test arrives earlier: Tuesday’s open. Traders will be eyeing whether the chip rally and that recent $120 call can stay intact in a market that’s quick to pull back. (Nasdaq)
