Marvell's Q1 earnings exceeded expectations, UBS raised its target price, and sentiment in the AI hardware supply chain was significantly boosted.

According to BlockBeats, on May 29th, US-listed semiconductor company Marvell Technology (MRVL) recently announced its first-quarter results for fiscal year 2027. The company achieved revenue of $2.418 billion, a 28% year-over-year increase, exceeding Wall Street expectations by approximately $240 million; non-GAAP earnings per share were $0.80, slightly higher than analysts' expectations of $0.79. The data center business (covering AI custom chips, optical interconnects, and silicon photonics products) contributed $1.83 billion, accounting for 76% of total revenue, becoming the core growth engine. Marvell also significantly raised its future guidance: the median revenue guidance for the second quarter is $2.7 billion, exceeding market expectations; the full-year revenue target for fiscal year 2027 has been raised to approximately $11.5 billion (a year-over-year increase of approximately 40%), and is expected to approach $15 billion in fiscal year 2028. Company management emphasized that demand for AI data centers is in an "accelerating phase," with optical interconnects and custom silicon wafers expected to significantly outpace growth. UBS Securities maintained its "Buy" rating on Marvell and raised its price target from $195 to $230. The firm believes the company's strong execution and design prowess in AI data center custom chips and optical interconnects will further solidify its key position in the GPU ecosystem. The market reacted positively to the earnings report and UBS's research report, with several investment banks subsequently raising their price targets (including Bank of America to $240 and Oppenheimer to $250). Analysts generally believe that this combination of "better-than-expected earnings + significantly upward guidance" further confirms the resilience and growth momentum of AI infrastructure demand. As a core supplier of optical interconnects and custom chips in the GPU supply chain, Marvell's long-term growth narrative has been strengthened, significantly boosting sentiment across the entire AI hardware industry chain. --------------------------------- Click the original link below to join the Beating · Lark AI news channel for 24/7 monitoring of global AI hotspots and news.