Marvell Technology got a rating boost from Wells Fargo.
Analysts at Wells Fargo raised their rating on the semiconductor company to outperform from market perform.
Wells Fargo also hiked the target price on the shares was also hiked to $32 a share from $25, which represents a 27% upside from Marvell's closing price Friday of $25.14.
"MRVL should continue to experience robust 5G base station-related sales to Nokia and Samsung for the balance of 2019 and into 2020," Analyst Gary Mobely wrote.
Mobely is also hopeful that data-center capital expenditures would rise, which in turn should augur well for MRVL's Octeon/Nitrox and Fibre Channel sales (according to the analyst).