Marvell Technology Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Marvell Technology, Inc. MRVL will release earnings results for its third quarter, after the closing bell on Tuesday, Dec. 3.

Analysts expect the Wilmington, Delaware-based bank to report quarterly earnings at 41 cents per share, versus 41 cents per share in the year-ago period. Marvell Technology projects to report revenue of $1.46 billion for the recent quarter, compared to $1.42 billion a year earlier, according to data from Benzinga Pro.

On Monday, Marvell Technology announced a five-year expanded partnership with Amazon Web Services, Inc. (AWS), emphasizing collaboration across AWS products and leveraging cloud infrastructure to drive advancements in accelerated data solutions.

Marvell Technology shares gained 4.5% to close at $96.86 on Monday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

• Evercore ISI Group analyst Mark Lipacis maintained an Outperform rating and raised the price target from $98 to $122 on Dec. 2. This analyst has an accuracy rate of 75%.
• Susquehanna analyst Christopher Rolland maintained a Positive rating and increased the price target from $95 to $110 on Nov. 27. This analyst has an accuracy rate of 81%.
• Oppenheimer analyst Rick Schafer maintained an Outperform rating and boosted the price target from $90 to $110 on Nov. 26. This analyst has an accuracy rate of 80%.
• Wells Fargo analyst Aaron Rakers maintained an Overweight rating and increased the price target from $90 to $100 on Nov. 26. This analyst has an accuracy rate of 86%.
• Loop Capital analyst Gary Mobley initiated coverage on the stock with a Hold rating and a price target of $95 on Nov. 11. This analyst has an accuracy rate of 72%.

Considering buying MRVL stock? Here’s what analysts think:

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