This article first appeared on GuruFocus.
Seaport Research has initiated coverage of Marvell Technology, Onsemi and Semtech with Buy ratings, citing opportunities tied to AI data-center infrastructure. The firm set price targets of $270 for Marvell, $100 for Onsemi and $200 for Semtech.
Marvell Technology (NASDAQ:MRVL) is the largest of the three calls, with Seaport pointing to demand for custom silicon and data-center connectivity. Data-center activity accounts for about three-quarters of the company’s revenue, while Marvell has also expanded manufacturing capacity with GlobalFoundries for AI-related optical connectivity.
For Onsemi (NASDAQ:ON), the research firm sees potential from 800-volt power systems being adopted in data-center projects expected during 2027 and 2028. The company could also benefit from improving demand across industrial and automotive markets.
Semtech (NASDAQ:SMTC) is being positioned around optical links used in next-generation data centers. Seaport expects AI-related optical demand to provide an additional growth driver in 2027 and 2028, while Semtech has recently expanded its portfolio of AI networking products.