MRVL Stock Has Gained Over 7% In Last Five Sessions As Marvell Technology's New Chip Boosts AI Server Performance: Here's What Technical Analysis Says

Group 1 - Marvell Technology Inc's shares have increased by 7.04% over the last five trading sessions due to the announcement of its updated XPU chip that enhances AI server performance [1] - The 'Marvell AI accelerator' or XPU, when integrated with Co-Packaged Optics (CPO), significantly improves AI server connectivity, achieving 100 times greater reach and faster data transfer rates [2] - Marvell's CEO expects a 26% growth in topline for fiscal 2025, driven by custom AI silicon programs and strong demand from cloud customers [3] Group 2 - Marvell's shares have risen by 89.87% in 2024, outperforming the Invesco QQQ Trust ETF, which rose 26.99% in the same period [4] - Over the last six months, Marvell's shares gained 60.12%, while QQQ only rose 3.52% [4] - Technical analysis indicates strong support for Marvell's stock, with shares above its eight, 20, 50, and 200-day simple moving averages [5] Group 3 - The relative strength index of Marvell's stock is at 59.80, suggesting it could be moderately overbought but remains in the neutral zone [6] - The consensus price target for Marvell is $111.06 per share, with the highest target at$149 and the lowest at $75 [7] - The average price target from selected analysts implies a 13.12% upside for Marvell [8]