Marvell Technology Stock Is Tumbling Thursday: What's Going On?

Marvell Technology Inc MRVL shares are trading lower Thursday on the heels of the company’s fiscal first-quarter results. Multiple analysts lowered price targets following the print. Here’s what you need to know.

• Q4 Revenue: $1.82 billion, versus estimates of $1.8 billion

• Q4 Adjusted EPS: 60 cents, versus estimates of 59 cents

Total revenue was up 27% year-over-year, driven by 78% growth in data center and a continued recovery in the company’s multi-market businesses.

“Our custom AI silicon programs have now entered volume production, and we continue to see strong growth from our interconnect products. Marvell has secured multiple new design wins, including several custom silicon programs that will fuel future growth. We are well positioned for a strong start to fiscal 2026,” said Matt Murphy, chairman and CEO of Marvell.

Despite the optimistic commentary, Marvell stock appears to be selling off in reaction to roughly in-line guidance. Marvell expects first-quarter revenue of $1.781 billion to $1.969 billion versus estimates of $1.87 billion. The company anticipates first-quarter adjusted earnings of 56 to 66 cents per share, versus estimates of 60 cents per share.

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Following the company’s quarterly results, multiple analysts lowered price targets, which may be adding to the selling pressure on Thursday.

• Needham analyst Quinn Bolton maintained a Buy rating and lowered the price target from $120 to $100.

• BofA Securities analyst Vivek Arya maintained a Buy rating and lowered the price target from $150 to $120.

• Morgan Stanley analyst Joseph Moore maintained an Equal-Weight rating and lowered the price target from $113 to $90.

• Keybanc analyst John Vinh maintained an Overweight rating and lowered the price target from $135 to $115.

• Rosenblatt analyst Kevin Cassidy maintained a Buy rating and price target of $140.

• Benchmark analyst Cody Acree reiterated Buy and maintained a price target of $135.

MRVL Price Action: Marvell Technology shares were down 17.9% at $74.01 at the time of publication Thursday, according to Benzinga Pro.

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