Marvell Technology stock surged on June 18 after landing two massive AI chip design wins. The company announced new custom ASIC contracts targeting major cloud giants, pushing its total pipeline to 13 such deals. These contracts represent multi-billion-dollar revenue opportunities expected to kick in around 2026-2027.
The spike wasn’t a fluke. Marvell’s stock exploded with a record 55.28 million shares traded—over three times its average daily volume of 15 million. The jump opened at $74.53 after closing at $69.99, signaling strong institutional buying.
Wall Street quickly followed suit. Bank of America raised its price target to $90, while B. Riley Financial pushed theirs up to $115. Analyst coverage now averages to a $96.33 price target, representing a 31% upside from current levels. 
“These new deals will begin generating substantial revenue in the 2026-2027 timeframe,” Marvell’s management said during its company-hosted AI strategy event.
Marvell is now firmly positioned as a key player shaping AI infrastructure through custom silicon. The stock’s rally reflects real investor confidence backed by solid contracts and widespread analyst upgrades.
Shares closed at $73.51 as of June 20 with a 52-week range of $47.09 to $127.48. Dividend yield stands at 0.33%. Analysts rate the stock as a Moderate Buy amidst renewed excitement around AI-driven growth.
