Seeking Alpha contributor Zbigniew Budzinski, CFA, changed his personal rating of Marvell Technology from Sell to Buy in an article published November 7, 2026. He estimated Marvell’s fair value at $187.35 per share on a standalone basis and $199.48 per share in a scenario that includes the proposed Lumentum acquisition.
Why Budzinski changed his view
Budzinski attributed the higher valuation to increased Marvell guidance for fiscal 2028 and fiscal 2031, as well as a significant Google custom-silicon win. His earlier rating was Sell, when he initiated coverage in late July. The Buy rating is his individual opinion, not a Marvell announcement or an analyst-consensus change.
What the estimates cover
The $187.35 estimate treats Marvell on its own. The $199.48 estimate includes a scenario with Lumentum Holdings, the proposed acquisition target. The two figures are Budzinski’s fair-value estimates, not observed share prices or company-issued guidance. NeoTeo previously covered the reported Marvell-Lumentum agreement.
Read the two figures as separate valuation scenarios: one excludes Lumentum, while the other includes the proposed acquisition.
