Needham analyst N. Quinn Bolton raised the price target on Marvell Technology Inc. to $115 from $110 and reiterated a Buy. The price target implies a 30.9 percent upside. Marvell is Needham’s top pick for 2022 within semiconductors. Bolton estimates Marvell will organically grow revenue by more than 30 percent in CY22 and by ~20 percent in CY23, the fastest growth amongst its large-cap peers. New design wins for its 5-nm platform, market share gains, and increasing supply from its major wafer foundry, substrate, and assembly and test partners will likely drive the growth, Bolton contended. Marvell Technology is a fabless chipmaker focused on networking and storage applications. By Anusuya Lahiri © 2021 The Epoch Times. The Epoch Times does not provide investment advice. All rights reserved.