MRVL
Wall Street’s doing the eyebrow raise
Marvell Technology is coming into its fiscal first-quarter results with analysts acting like the company just walked into a group chat and dropped a very convincing earnings teaser. Shares jumped Tuesday ahead of Wednesday’s report, with the stock climbing 4.54% to $205.24 as investors piled into the “maybe this beats and raises” trade.
Cantor says: more fuel, please
Cantor Fitzgerald’s C.J. Muse kept a Neutral rating on Marvell but jacked the price target from $120 to $190 — which is a pretty dramatic re-rate, even by Wall Street’s standards. The takeaway: Muse thinks Marvell is likely to deliver a modest beat on its April-quarter numbers and then nudge July-quarter guidance a little higher.
He’s looking for the good stuff to come from:
- Optics and switching, where demand looks strong
- Custom silicon, which keeps humming along
- Bigger contributions from Maia and stronger DSP demand
Muse also sees room for Marvell to keep lifting the long-term story, including a bigger data center growth runway in fiscal 2027 and potentially more than $15 billion in revenue by fiscal 2028.
JPMorgan’s still in the camp
JPMorgan’s Harlan Sur didn’t change the tune much either. He reiterated an Overweight rating and said there’s still strong upside from current levels. His version of the bull case sounds familiar: better-than-expected revenue and earnings outlook for 2026 and 2027, plus strong demand for optical DSPs and several GPU/XPU programs rolling out in the second half of the year.
Big picture: Marvell is still being treated like one of the AI infrastructure names that matters. If Wednesday’s numbers and guidance come in hot, the market may keep rewarding the company like it’s the cool kid who also happens to do the plumbing for the data center.