Marvell Technology Inc (NASDAQ:MRVL) shares climbed in early trading on Friday, after the company reported upbeat second-quarter sales.

The company reported its results amid an exciting earnings season. Here are some key analyst takeaways.

Goldman Sachs On Marvell Technology

Analyst Toshiya Hari maintained a Buy rating while lifting the price target from $77 to $87.

Marvell Technology reported its first beat-and-raise in five quarters, with fiscal second-quarter revenue at $1.27 billion, representing 10% sequential growth but a 5% year-on-year decline, Hari said in a note. The figure came in 2% higher than consensus, he added.

Management guided to fiscal third-quarter revenue of $1.45 billion and expressed confidence in “significantly exceeding its FY2025/26 AI revenue targets of $1.5bn/$2.5bn, respectively,” the analyst stated.

“Supported by strong bookings and a robust backlog, we believe Marvell’s forward visibility has improved in both Custom Compute and Electro-Optics,” he further wrote.

Stifel On Marvell Technology

Analyst Tore Svanberg reiterated a Buy rating while raising the price target from $90 to $95.

Marvell Technology reported its July quarter results above midpoint, “as DC/AI revenue continues to accelerate,” Svanberg said.

The company raised its October outlook, “driven primarily by DC/AI, in addition to sequential recoveries in Carrier Infrastructure and Enterprise Networking,” he added.

The analyst stated Marvell is on track to surpass its previous AI revenue guidance for …

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