Marvell Technology (MRVL) is just starting to pivot higher again. 

Last trading at $73.59, I’d like to see MRVL retest its prior high. Helping, the company recently declared a quarterly dividend of six cents, payable on May 1 to shareholders of record as of April 12. MRVL also authorized another $3 billion to the balance of its existing stock repurchase program, increasing the total current repurchase authority to about $3.3 billion. 

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Citi also just opened a 30-day catalyst watch on the MRVL stock ahead of its Ai event on April 11. “If recent history is any guide, snatching up shares of Marvell Technology ahead of its upcoming artificial intelligence presentation could potentially pay off for investors, according to Citi,” as noted by CNBC. 

Oppenheimer also reiterated an outperform rating on MRVL, with a price target of $80 a share.


Ian Cooper