Marvell Technology is set to report earnings after today's market close, with competitor Nvidia trading up 5% on the day following their own print yesterday evening.
Marvell's stock (NASDAQ: MRVL) had opened at $67.59, but has given back all of those gains, and then some, through the first half hour of trading. MRVL is currently trading negative on the day, down 0.82% after a close to 5% swing green to red. Despite some short-term strength over the past month or so, MRVL remains a huge underperformer this year, with the stock down 43% YTD.
Analysts are looking for the company to report earnings per share of $0.61, up nicely from the $0.24 delivered in the same quarter last year. Revenue is also expected to grow healthily to $1.88 billion, reflecting a 61.8% gain YoY. Whilst YoY sales growth is expected to slow to 55.7% in Q2, that would represent a revenue figure of $2 billion. A notable milestone.
Marvell’s latest collaboration with Nvidia, integrating Nvidia NVLink Fusion into its custom cloud platform silicon, is a pivotal move. This partnership is designed to serve hyperscale cloud clients such as Amazon and Google, placing Marvell at the heart of next-generation AI infrastructure buildouts.
Industry analysts are quick to note that Marvell’s exposure to hyperscale customers, including Microsoft and Meta, should provide a meaningful tailwind for its upcoming results. The company’s focus on AI silicon, coupled with strategic leadership changes and a disciplined approach to execution, has positioned it as a key beneficiary of the AI-driven capital expenditure boom among cloud giants.
| Date | Analyst Coverage |
|---|---|
| 05/29 | Redburn Atlantic have initiated coverage of Marvell (MRVL) and have cited a “Neutral” rating and given a $67 price target. |
| 05/29 | Susquehanna have lowered the firm's price target on Marvell from $110 to $90 and they maintain a “Positive” rating on the shares. |
| 05/22 | Melius Research appear to have downgraded Marvell (MRVL) to “Hold” from a “Buy” rating. The firm has not changed their price target of $66. |
| 05/19 | UBS lowered the firm's price target on Marvell (MRVL) from $110 to $100 and they maintain a “Buy” rating on the shares. |
| 05/07 | Roth Capital lowered the firm's price target on Marvell from $100 from $80 and keeps a “Buy” rating on the shares. |
The average one-year analyst target at $95.43 continues to reflect the bullish tone on the street, sitting close to 50% above current levels.
Marvell is approaching earnings with some renewed optimism, albeit at depressed levels on the year. While analysts see significant upside and institutional investors are increasing their stakes, caution remains warranted given the stock’s recent volatility, mixed technical outlook, and broader sector risks. The narrative surrounding the outlook and any guidance is likely to prove far more important to price action in the aftermath of results than the pure number itself.
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