Marvell Technology Stock Breaks Record on Beat-and-Raise

Marvell Technology Inc (NASDAQ:MRVL) earlier issued upbeat fiscal-fourth quarter guidance due to artificial intelligence (AI) demand. The company also reported a top- and bottom-line win for the third quarter and saw no fewer than 17 price-target hikes, including one from Rosenblatt Securities to $140 from$120. At last check, MRVL is up 20.8% to trade at a fresh record high of $115.83, blasting through recent resistance from$100 level and pacing for its best single-day percentage gain since May 2023. Shar ...