Marvell Technology Surges 7.5% as B. Riley Raises Target to $345 and S&P 500 Inclusion on June 22 Drives Index-Fund Buying

Marvell Technology shares jumped 7.52% on June 18 after B. Riley raised its price target to $345 from $240, citing Nvidia collaboration strength, reaffirmed Q2 FY2027 guidance slightly above Street expectations, and tailwinds from MRVL's addition to the S&P 500 on June 22. The S&P 500 inclusion triggered premarket buying from index funds required to hold the stock, pushing shares more than 8% higher ahead of the open. B. Riley maintained its Buy rating but cautioned that valuation is 'now rich,' while management's guidance reaffirm signals the AI and data-center demand story remains intact.