TD Cowen Upgrades Marvell Technology to Buy from Hold
Fintel reports that on October 7, 2026, TD Cowen upgraded their outlook for Marvell Technology (NASDAQGS:MRVL) (XTRA:9MW) from Hold to Buy. This rating action follows a prior action by TD Cowen on August 28, 2026, when the firm maintained a Hold rating on the stock.
On the same day of October 7, 2026, a cluster of 10 rating actions occurred for the company. This included 1 upgrade and 9 maintained ratings. Alongside the upgrade by TD Cowen, Morgan Stanley maintained an Equal-Weight rating, Wolfe Research maintained an Outperform rating, Wells Fargo maintained an Overweight rating, JP Morgan maintained an Overweight rating, Jefferies maintained a Buy rating, RBC Capital maintained an Outperform rating, Evercore ISI Group maintained an Outperform rating, Stifel maintained a Buy rating, and StoneX maintained a Buy rating.
Marvell Technology, Inc., headquartered in the United States, operates primarily in the semiconductor industry, providing a range of solutions pivotal to the infrastructure sector. The company focuses on the development and production of high-performance, complex semiconductor products and platforms which address the data processing, storage, networking, and connectivity requirements critical in high-growth markets like automotive, industrial, telecom, and enterprise computing. Prior to the rating action, the stock closed at $287.01 on October 6, 2026. This latest close represents a price change of +9.02% over one week from a baseline close of $263.27 on September 29, 2026, and a price change of +28.39% over one month from a baseline close of $223.55 on September 4, 2026.
The company reported its latest earnings on August 27, 2026, with an actual EPS of 0.94 compared to an estimated EPS of 0.9422, representing an EPS surprise of -0.23%. Actual revenue was $2,739,300,000.00, compared to the estimated revenue of $2,765,623,277.00. As of October 2, 2026, the current consensus target mean for the stock was $288.31, with a median target of $283.05, representing an implied change of +0.45% from the pre-action close of $287.01. This consensus target mean reflects a revision of +0.84% from the prior consensus target mean of $285.90 recorded on September 15, 2026.
For the current recommendation period of September 1, 2026, the aggregate recommendation data showed 13 strong buy, 30 buy, 7 hold, 0 sell, and 0 strong sell recommendations, totaling 50 recommendations. This represents 86.0% positive recommendations, 14.0% hold recommendations, and 0.0% negative recommendations. In the prior period of August 1, 2026, there were 13 strong buy, 29 buy, 7 hold, 0 sell, and 0 strong sell recommendations, totaling 49 recommendations, which represented 85.7% positive, 14.3% hold, and 0.0% negative recommendations.
Recent analyst actions
| Date | Analyst | Prior | Latest recommendation | Action |
|---|---|---|---|---|
| October 7, 2026 | TD Cowen | Hold | Buy | upgrade |
| October 7, 2026 | Evercore ISI Group | Outperform | Outperform | maintained |
| October 7, 2026 | Stifel | Buy | Buy | maintained |
| October 7, 2026 | StoneX | Buy | Buy | maintained |
| October 7, 2026 | Morgan Stanley | Equal-Weight | Equal-Weight | maintained |
| October 7, 2026 | Wolfe Research | Outperform | Outperform | maintained |
| October 7, 2026 | Wells Fargo | Overweight | Overweight | maintained |
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.