Marvell Technology reported first-quarter fiscal 2027 revenue of $2.418 billion, marking a 28% year-over-year increase and exceeding Wall Street expectations by $240 million. The company's non-GAAP earnings per share were $0.80, slightly above analyst estimates. Data center revenue, driven by AI custom chips and optical interconnects, accounted for 76% of total revenue. Marvell raised its second-quarter revenue forecast midpoint to $2.7 billion and increased its full-year fiscal 2027 revenue target to approximately $11.5 billion, projecting fiscal 2028 revenue to approach $15 billion. UBS maintained a "Buy" rating and raised its price target to $230, highlighting Marvell's strong execution in AI data center custom chips. The market reacted positively, with other banks like Bank of America and Oppenheimer also raising their price targets.