Marvell Technology (NASDAQ:MRVL) designs, develops, and markets analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a range of storage products, including hard disk drive (HDD) and solid-state drive controllers, as well as preamplifiers; supports a variety of host system interfaces consisting of serial attached SCSI (SAS), serial advanced technology attachment (SATA), peripheral component interconnect express, and non-volatile memory express; and develops software-enabled silicon solutions comprising SATA port multipliers, bridges, SATA, SAS, and non-volatile memory express redundant array of independent disks controllers and converged storage processors for enterprises, data centers, and cloud computing businesses.
MRVL has already run up substantially.
However, we believe there’s further room to run, as it gets caught up in the 5G boom.
"Our design win momentum continues in 5G, and we recently announced a significant long-term partnership with Samsung to deliver multiple generations of embedded processors and baseband processors for both LTE and 5G base stations. We expect shipments of our 5G products to start to ramp toward the end of the fiscal year 2020 and continue to grow rapidly into fiscal 2021 and beyond,” said company CEO Matthew Murphy.
The stock was also just upgraded to outperform from market perform at Wells Fargo. The price target was also increased to $32 from $25.
This is just one of the opportunities we find quite often inside Extreme Option Profits.
PS. Be sure to come back Tuesday for our next Chart of the Day!