FINWIRES · TerminalLIVE
FINWIRES

Research Alert: CFRA Keeps Buy On Shares Of Marvell Technology - Diversifying Away From Aws

By

-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

We up our 12-month target to $170 from $150, on higher revised P/E of 32.5x our CY 27 EPS, near historical and reflects our view of potential upside to forward estimates. According to unconfirmed reports, MRVL is in discussions with Alphabet (GOOGL) to co-develop new AI inference chips, with the partnership targeting two specialized chips: a memory processing unit (MPU) to work alongside GOOGL's existing TPUs and an inference-specific customer silicon TPU. GOOGL aims to complete the MPU design as early as CY 27 before initiating test production, with MRVL expected to provide design services similar to MediaTek's role in Google's "Ironwood" TPU development. Also, this move will not replace GOOGL's largest chip partner, Broadcom (contract just extended to CY 31), but does add a third design partner and enhances supply chain resilience amid constraints. This potential collaboration also builds on MRVL's existing work on GOOGL's Axion ARM CPUs and further diversifies its AI strategy away from being AWS dominant.

Related Articles

Equities

US-Boarded Iran-Linked Tankers Turn Around in Indian Ocean

Two Iran-linked oil tankers intercepted by U.S. forces near Sri Lanka have turned around in the Indian Ocean, Bloomberg reported on Monday.The vessels identified as the Tifani and Phonix were boarded by U.S. forces last week. The report said after initially heading west, the tankers turned east late Monday, according to shipping data.The U.S. has not clarified what will happen to the ships or their cargo, and both vessels continue to signal Asian destinations, creating confusion about their final route.

Equities

Vietnam's PV Gas Turns to US LPG as Iran War Disrupts Supply

PetroVietnam Gas plans to increase imports of liquefied petroleum gas from the U.S., as the Iran war disrupts supplies from the Middle East, Bloomberg reported on Monday.The company plans to import about 66,000 tons of LPG from the U.S. in May, compared with 44,000 tons from the Middle East.PV Gas expects to import around 250,000 tons of LPG in the three months following the outbreak of the war, with more than half coming from the U.S., the report said.

Equities

Trump Administration Cancels Offshore Wind Leases, Shifts Investment to Fossil Fuels

The Trump administration has struck agreements to cancel offshore wind leases and redirect investment toward conventional energy projects, as part of its push to boost energy security and affordability.The deals with Bluepoint Wind and Golden State Wind will see the companies end their leases in exchange for investing equivalent amounts in areas such as liquefied natural gas, and oil and gas infrastructure.The U.S. Department of the Interior said Bluepoint plans to invest up to $765 million, while Golden State Wind will commit about $120 million.The department said the agreements aim to move away from projects reliant on subsidies and toward more reliable energy sources.