AVGO, MRVL, NVTS Stocks Hit 52-Week Highs: What Sent These Chipmakers Higher?

Shares of chipmakers Marvell Technology Inc. (MRVL), Broadcom Inc. (AVGO), and Navitas Semiconductor Corp. (NVTS) rallied to fresh yearly highs on Wednesday amid a broader uptick in the semiconductor sector.

MRVL stock closed up nearly 4% as it extended gains on positive comments from Nvidia’s CEO. AVGO shares pared some gains to end the session about 0.5% lower ahead of its second-quarter (Q2) results, while NVTS soared more than 19% at close.

Shares of MRVL soared to an all-time intraday high of $324.20 on Wednesday, extending a winning streak after Nvidia Corp. (NVDA) CEO Jensen Huang called it the “next trillion-dollar company” at the Computex conference in Taipei, Taiwan. As part of a strategic collaboration, Nvidia invested $2 billion in Marvell, enabling customers to combine products from both firms when developing semi-custom AI systems.

Meanwhile, Marvell reached a market capitalization of more than $254 billion on Wednesday, prompting speculation about its inclusion in the S&P 500 in June. One user on Stocktwits echoed the sentiment, saying, “S&P inclusion on 6/19. This will run to $400 in anticipation. Nothing to worry.”

Marvell has strengthened its position in the AI infrastructure sector, with its data center business accounting for about 76% of first-quarter (Q1) revenue. The company has also raised its fiscal 2027 and 2028 forecasts, reflecting confidence in demand for its networking, custom AI chip, and silicon photonics offerings.

On Tuesday, Stifel raised the price target on Marvell to $321 from $230 and kept a ‘Buy’ rating on the shares, according to TheFly.

MRVL has surged more than 237% in 2026, even as retail sentiment on Stocktwits has stayed ‘extremely bullish’ amid the rally.

AVGO stock climbed to a yearly high of $495.00 in Wednesday’s intraday trading session ahead of its second-quarter (Q2) results. However, the chipmaker’s shares closed lower and plunged more than 13% overnight after its third-quarter revenue outlook came in below the high end of analyst expectations.

Broadcom posted adjusted earnings per share of $2.44, above the $1.58 a share reported in the same quarter a year ago, and largely in line with Wall Street projections. Meanwhile, revenue grew 48% to $22.19 billion. However, for the upcoming quarter, AVGO projected revenue of $29.4 billion, below the upper end of $37.5 billion expected by analysts.

Following the results, Jefferies raised the price target on Broadcom to $550 from $500 and kept a Buy rating on the shares. The analyst said it expects Broadcom's operating margins to improve as AI revenue accelerates, particularly as Meta Platforms (META) and OpenAI ramp up next year.

AVGO stock has gained more than 37% in 2026 as retail sentiment on Stocktwits has stayed in the ‘extremely bullish’ territory.

Shares of NVTS jumped to a yearly high of $34.17 after the company said Nvidia was showcasing its recently launched 800 V-to-6 V DC-DC power delivery board at the Computex conference.