MRVL
Earnings first, applause second
Marvell Technology didn’t just beat expectations — it handed Wall Street a nice little confidence boost. The chipmaker said first-quarter revenue hit a record $2.418 billion, up 28% year over year, and adjusted EPS came in at 80 cents, just ahead of estimates.
That’s the kind of report that gets analysts reaching for the price-target button like it’s the last slice of pizza.
The target bumps
A couple of firms came out swinging after the print:
- Morgan Stanley kept its Equal-Weight rating but lifted its price target from $172 to $195.
- Stifel stayed Buy-rated and raised its target from $210 to $230.
So yes, the verdict is basically: nice quarter, and maybe don’t sleep on the AI-chip gravy train just yet.
Why investors should care
Marvell also said second-quarter revenue should land around $2.7 billion at the midpoint, which would mean 35% growth year over year. Management also guided for adjusted EPS of 88 to 98 cents, topping the street’s 90-cent call on the low end and giving the bulls more ammo.
The stock was already catching a bid, climbing 2.8% to $204.31 in premarket trading. Big picture: when revenue is setting records and analysts are ratcheting up targets, that usually means the market story is still alive and kicking — even if your valuation spreadsheet is quietly sweating.