<p>在 2025 年，市场上表现较为失望的人工智能（AI）驱动股票之一是 Marvell Technology（纳斯达克代码：MRVL）。截至目前，股票的总回报约为-25%。与此同时，竞争对手半导体公司 Broadcom（纳斯达克代码：AVGO）的回报超过了 44%。然而，Marvell 最近为其股价注入了一剂强心针。</p>
<p>在 9 月 24 日，该公司宣布了一项大规模的新股票回购计划。这激发了投资者的信心。9 月 24 日和 25 日，股票合计上涨了约 12%。下面，我们将详细分析这一公告为何特别看涨。我们还将详细介绍另一个关键的信息，表明 Marvell 的复苏可以继续。</p>
<p>获取 <strong>Marvell Technology</strong> 的提醒：</p>
<h2>Marvell 在九月底增加了大规模的回购能力</h2>
<p>Marvell 最新的回购授权包含多个组成部分。首先，公司已授权一项新的 50 亿美元股票回购计划。通过这一计划，公司可以在一段时间内显著降低其流通股数量。这可以为每股收益（EPS）和每股自由现金流（FCF）等关键 “每股” 指标提供助力。市场使用这些指标来评估公司，因此提供额外的途径来提高这些指标通常会导致股价上涨。50 亿美元约占 Marvell710 亿美元市值的 7%，公司可以显著影响这些数据的上升。</p>
<p>这一举动也表明了 Marvell 管理团队的信心。当一家公司回购其股票时，实际上是在自我投资。因此，增加回购自身股票的能力意味着公司认为当前股价具有显著价值。考虑到 Marvell 股价的急剧下跌，看到 Marvell 做出这一决定并不令人感到意外。股票需要上涨约 53% 才能回到历史最高收盘价，这表明其复苏的巨大机会。</p>
<h2>ASR 信号低估，助力股票起飞</h2>
<p>Marvell 还进入了一项 10 亿美元的加速回购授权（ASR），这是公告中一个特别看涨的细节。通过 ASR，公司雇佣投资银行快速回购股票。这使得 ASR 成为公司认为其股票被低估的最明确的指标之一。这是因为公司迅速回购股票以锁定价值。ASR 还涉及向金融机构支付费用。这使得其机会成本相对于公开市场回购更高。Marvell 选择接受这些成本强调了管理层认为市场低估了其股票。</p>
<p>在考虑新的 50 亿美元回购、ASR 以及 2024 年 3 月授权的剩余资金后，Marvell 的回购能力约为 67 亿美元。这相当于其市值的 9.4%。这应该能够显著支持每股收益等指标，从而推动其股价。</p>
<h2>Marvell 缓解亚马逊担忧，复苏前景看好</h2>
<p>在回购公告之前，Marvell 的股价仅从约 75 美元上涨到 82 美元，至 9 月 29 日收盘。因此，仍然有理由相信管理层认为股票还有更大的上涨空间。Needham 和德意志银行的分析师在回购公告后提高了他们的目标价，分别设定为 90 美元和 95 美元，暗示 Marvell 的复苏仍有上升空间。总体而言，MarketBeat 对 Marvell 的共识目标价略高于 91 美元，意味着股票还有约 11% 的上涨空间。</p>
<p>目前，围绕 Marvell 的最大问题是其与亚马逊（纳斯达克代码：AMZN）的关系。亚马逊是 Marvell 定制 AI 芯片的主要客户，但台湾竞争对手 AlChip 声称赢得了未来定制 AI 芯片的设计竞赛。这一消息大大打击了市场对 Marvell 的信心，导致股价下跌。然而，在 9 月 24 日的摩根大通炉边谈话中，Marvell 首席执行官 Matt Murphy 直接回应了这一担忧。他表示，Marvell 并未预见到与亚马逊的关系会导致明年的收入缺口，从而增强了对股票的前景。</p>
<p>值得注意的是，分析师 Harlan Sur 是炉边谈话的采访者。他认为 Murphy 的评论 “唯一合理的解释” 是 Marvell 正在参与与亚马逊的下一代定制 AI 芯片项目。Sur 对 Marvell 的高度看涨目标价为 120 美元，意味着股票还有约 46% 的上涨空间。考虑到这一点以及管理层发出的看涨信号，Marvell 有很好的机会继续复苏。</p>
<h2>你现在应该投资 1000 美元在 Marvell Technology 吗？</h2>
<p>在你考虑 Marvell Technology 之前，你需要听听这个。</p>
<p>MarketBeat 跟踪华尔街顶级评级和表现最佳的研究分析师及其每日推荐的股票。MarketBeat 已识别出五只股票，顶级分析师正在悄悄地向客户推荐，现在就买入，以便在更广泛的市场注意到之前……而 Marvell Technology 并不在名单上。</p>
<p>虽然 Marvell Technology 目前在分析师中获得了中等买入评级，但顶级分析师认为这五只股票更值得投资。</p>
<p>查看这五只股票</p>

迈威尔科技

<p>迈威尔科技宣布进行 50 亿美元的股票回购后，其股价大幅上涨，增强了投资者信心。尽管年初至今股价下跌了 25%，此次回购约占其市值的 7%，旨在提升每股收益等关键指标。此外，10 亿美元的加速回购表明管理层对股票被低估的信心。分析师们提高了价格目标，普遍建议有 11% 的上涨空间。首席执行官马特·墨菲向投资者保证，迈威尔与亚马逊的关系良好，表示没有收入损失，进一步支持了对复苏的积极展望</p>

<p>In 2025, one of the more disappointing artificial intelligence (AI)-driven stocks in the market has been Marvell Technology NASDAQ: MRVL. Year-to-date, shares have provided a total return of around -25%. Meanwhile, rival semiconductor company Broadcom NASDAQ: AVGO has returned more than 44%. However, Marvell recently gave its share price a shot in the arm.</p>
<div class="lb-trans"><p>在 2025 年，市场上表现较为失望的人工智能（AI）驱动股票之一是 Marvell Technology（纳斯达克代码：MRVL）。截至目前，股票的总回报约为-25%。与此同时，竞争对手半导体公司 Broadcom（纳斯达克代码：AVGO）的回报超过了 44%。然而，Marvell 最近为其股价注入了一剂强心针。</p>
</div><p>On Sept. 24, the company announced a massive new share buyback program. This inspired a significant amount of confidence among investors. Shares gained by approximately 12% on Sept. 24 and Sept. 25 combined. Below, we’ll break down why this announcement is particularly bullish. We’ll also detail another key piece of information that signals Marvell’s recovery can continue.</p>
<div class="lb-trans"><p>在 9 月 24 日，该公司宣布了一项大规模的新股票回购计划。这激发了投资者的信心。9 月 24 日和 25 日，股票合计上涨了约 12%。下面，我们将详细分析这一公告为何特别看涨。我们还将详细介绍另一个关键的信息，表明 Marvell 的复苏可以继续。</p>
</div><p>Get <strong>Marvell Technology</strong> alerts:</p>
<div class="lb-trans"><p>获取 <strong>Marvell Technology</strong> 的提醒：</p>
</div><h2>Marvell Adds Big-Time Buyback Capacity in Late September</h2>
<div class="lb-trans"><h2>Marvell 在九月底增加了大规模的回购能力</h2>
</div><p>Marvell’s latest buyback authorization includes multiple moving parts. First off, the company has authorized a new $5 billion share buyback program. Through this, the company can substantially lower its outstanding share count over time. This can provide a tailwind to key “per share” metrics, such as earnings per share (EPS) and free cash flow (FCF) per share. Markets use these metrics to value companies, so providing an additional avenue to increase them can often lead to higher share prices. With $5 billion representing around 7% of Marvell’s $71 billion market capitalization, the company could substantially influence these figures upward.</p>
<div class="lb-trans"><p>Marvell 最新的回购授权包含多个组成部分。首先，公司已授权一项新的 50 亿美元股票回购计划。通过这一计划，公司可以在一段时间内显著降低其流通股数量。这可以为每股收益（EPS）和每股自由现金流（FCF）等关键 “每股” 指标提供助力。市场使用这些指标来评估公司，因此提供额外的途径来提高这些指标通常会导致股价上涨。50 亿美元约占 Marvell710 亿美元市值的 7%，公司可以显著影响这些数据的上升。</p>
</div><p>The move also signals confidence from Marvell’s management team. When a company buys back its shares, it is essentially investing in itself. Thus, increasing its capacity to buy its own stock implies that the company sees significant value in shares near current levels. Given the precipitous fall in Marvell shares, it is not overly surprising to see Marvell make this decision. Shares would need to rise by around 53% to get back to their all-time high closing price, indicating the significant opportunity it has to recover.</p>
<div class="lb-trans"><p>这一举动也表明了 Marvell 管理团队的信心。当一家公司回购其股票时，实际上是在自我投资。因此，增加回购自身股票的能力意味着公司认为当前股价具有显著价值。考虑到 Marvell 股价的急剧下跌，看到 Marvell 做出这一决定并不令人感到意外。股票需要上涨约 53% 才能回到历史最高收盘价，这表明其复苏的巨大机会。</p>
</div><h2>ASR Signals Undervaluation, Helping Shares Take Off</h2>
<div class="lb-trans"><h2>ASR 信号低估，助力股票起飞</h2>
</div><p>Marvell also entered into a $1 billion accelerated repurchase authorization (ASR), a particularly bullish wrinkle in the announcement. Through an ASR, a company employs an investment bank to buy back shares quickly. This makes an ASR one of the clearest indicators that a company sees its stock as undervalued. This is because the company is moving to buy back stock rapidly to lock in value. An ASR also involves paying fees to the financial institution. This makes its opportunity cost higher relative to open-market buybacks. Marvell's choice to accept these costs emphasizes that management believes the market undervalues its shares.</p>
<div class="lb-trans"><p>Marvell 还进入了一项 10 亿美元的加速回购授权（ASR），这是公告中一个特别看涨的细节。通过 ASR，公司雇佣投资银行快速回购股票。这使得 ASR 成为公司认为其股票被低估的最明确的指标之一。这是因为公司迅速回购股票以锁定价值。ASR 还涉及向金融机构支付费用。这使得其机会成本相对于公开市场回购更高。Marvell 选择接受这些成本强调了管理层认为市场低估了其股票。</p>
</div><p>When accounting for the new $5 billion buyback, the ASR, and the remaining funds from its March 2024 authorization, Marvell has around $6.7 billion in buyback capacity. That is equal to a very large 9.4% of its market capitalization. This should allow Marvell to significantly support metrics like EPS, and in turn, its share price.</p>
<div class="lb-trans"><p>在考虑新的 50 亿美元回购、ASR 以及 2024 年 3 月授权的剩余资金后，Marvell 的回购能力约为 67 亿美元。这相当于其市值的 9.4%。这应该能够显著支持每股收益等指标，从而推动其股价。</p>
</div><h2>Marvell Eases Amazon Concerns, Recovery Looks Promising</h2>
<div class="lb-trans"><h2>Marvell 缓解亚马逊担忧，复苏前景看好</h2>
</div><p>Marvell shares have only moved from around $75 to $82 prior to the repurchase announcement to the Sept. 29 close. Thus, there is still reason to believe that management sees much more upside in shares. Analysts at Needham and Deutsche Bank raised their price targets after the buyback announcement. They set them at $90 and $95, respectively, suggesting that Marvell’s recovery still has room to run. Overall, the MarketBeat consensus price target on Marvell is just over $91, implying around 11% upside in shares.</p>
<div class="lb-trans"><p>在回购公告之前，Marvell 的股价仅从约 75 美元上涨到 82 美元，至 9 月 29 日收盘。因此，仍然有理由相信管理层认为股票还有更大的上涨空间。Needham 和德意志银行的分析师在回购公告后提高了他们的目标价，分别设定为 90 美元和 95 美元，暗示 Marvell 的复苏仍有上升空间。总体而言，MarketBeat 对 Marvell 的共识目标价略高于 91 美元，意味着股票还有约 11% 的上涨空间。</p>
</div><p>Currently, the biggest issue surrounding Marvell is its relationship with Amazon.com NASDAQ: AMZN. Amazon is the leading customer of Marvell’s custom AI chips, but Taiwanese rival AlChip claims it won the design competition for a future custom AI chip. This news has greatly dampened sentiment around Marvell, sending shares down. However, at a JP Morgan Fireside Chat on Sept. 24, Marvell’s Chief Executive Officer, Matt Murphy, directly addressed this concern. He said that Marvell sees no revenue hole from its relationship with Amazon next year, bolstering the outlook for shares.</p>
<div class="lb-trans"><p>目前，围绕 Marvell 的最大问题是其与亚马逊（纳斯达克代码：AMZN）的关系。亚马逊是 Marvell 定制 AI 芯片的主要客户，但台湾竞争对手 AlChip 声称赢得了未来定制 AI 芯片的设计竞赛。这一消息大大打击了市场对 Marvell 的信心，导致股价下跌。然而，在 9 月 24 日的摩根大通炉边谈话中，Marvell 首席执行官 Matt Murphy 直接回应了这一担忧。他表示，Marvell 并未预见到与亚马逊的关系会导致明年的收入缺口，从而增强了对股票的前景。</p>
</div><p>Notably, analyst Harlan Sur was the Fireside Chat interviewer. He believes the “only reasonable interpretation” of Murphy’s comments is that Marvell is participating in the next-gen custom AI chip program with Amazon. Sur’s highly bullish $120 price target on Marvell implies around 46% upside in shares. With this and the bullish signals management is sending in mind, Marvell has a solid chance of continuing its recovery.</p>
<div class="lb-trans"><p>值得注意的是，分析师 Harlan Sur 是炉边谈话的采访者。他认为 Murphy 的评论 “唯一合理的解释” 是 Marvell 正在参与与亚马逊的下一代定制 AI 芯片项目。Sur 对 Marvell 的高度看涨目标价为 120 美元，意味着股票还有约 46% 的上涨空间。考虑到这一点以及管理层发出的看涨信号，Marvell 有很好的机会继续复苏。</p>
</div><h2>Should You Invest $1,000 in Marvell Technology Right Now?</h2>
<div class="lb-trans"><h2>你现在应该投资 1000 美元在 Marvell Technology 吗？</h2>
</div><p>Before you consider Marvell Technology, you'll want to hear this.</p>
<div class="lb-trans"><p>在你考虑 Marvell Technology 之前，你需要听听这个。</p>
</div><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Marvell Technology wasn't on the list.</p>
<div class="lb-trans"><p>MarketBeat 跟踪华尔街顶级评级和表现最佳的研究分析师及其每日推荐的股票。MarketBeat 已识别出五只股票，顶级分析师正在悄悄地向客户推荐，现在就买入，以便在更广泛的市场注意到之前……而 Marvell Technology 并不在名单上。</p>
</div><p>While Marvell Technology currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.</p>
<div class="lb-trans"><p>虽然 Marvell Technology 目前在分析师中获得了中等买入评级，但顶级分析师认为这五只股票更值得投资。</p>
</div><p>View The Five Stocks Here</p>
<div class="lb-trans"><p>查看这五只股票</p>
</div>

迈威尔科技因超过 60 亿美元的股票回购而股价飙升——这种复苏能否持续？