Marvell Analysts Back Steady Outlook, Point To Data Center Strength, AI Momentum

Shares of Marvell Technology Inc. MRVL tanked in early Friday trading despite the company’s upbeat earnings report for the first quarter on Thursday.

The announcement came amid an exciting earnings season. Here are some key analyst takeaways.

Piper Sandler On Marvell Technology

Analyst Harsh Kumar maintained an Overweight rating, while reducing the price target from $95 to $85.

Marvell Technology reported revenues of $1.895 billion and earnings of 62 cents per share, higher than consensus estimates of $1.877 billion and 61 cents per share, respectively, Kumar said in a note. Management guided to revenues of $2.0 billion and earnings of 67 cents per share for the second quarter, broadly in-line with expectations, he added.

"The company continues to expect AI to be the majority of their revenue profile going forward and continue to grow as a proportion of the business," the analyst further wrote.

KeyBanc Capital Markets On Marvell Technology

Analyst John Vinh reiterated an Overweight rating, while cutting the price target from $115 to $90.

Marvell Technology reported its quarterly results and guidance broadly in line with expectations, Vinh said.

Management reiterated that revenue from Amazon.com Inc's AMZN AWS-related custom AI XPUs is expected to grow in fiscal 2026 and 2027, he added. The company also said that its design win with Microsoft Corp MSFT on Maia 200 "continues to progress, with ongoing collaboration on the architecture for the next-generation Maia 300," the analyst further wrote.

Check out other analyst stock ratings.

Cantor Fitzgerald On Marvell Technology

Analyst Quinn Bolton reaffirmed a Buy rating, while lowering the price target from $100 to $85.

Marvell Technology reported a beat and raise quarter, driven by continued growth in Data Center revenues, Bolton said.

"Management seems very confident in the company’s opportunity at AMZN, and has secured 3nm wafer and advanced packaging capacity for the next generation design set to ramp in 2026," the analyst wrote. He said revenue is likely to grow sequentially through fiscal 2026, "led by Data Center and as CI and EN continue to recover."

Benchmark On Marvell Technology

Analyst Cody Acree maintained a Buy rating and price target of $95.

Marvell Technology's stock came under pressure following the release of first-quarter results, as investors were "not particularly thrilled by the firm's relatively modest upside results and guidance," especially after the outperformance delivered by rival Nvidia Corp NVDA, Acree said.

Both Marvell Technology and Nvidia witnessed demand for AI driving robust Data Center growth, the analyst stated. He added, however, that Marvell Technology did not provide "any specifics of its quarterly AI results."

MRVL Price Action: Shares of Marvell Technology had declined by 6.79% to $59.40 at the time of publication on Friday.

Read More:

•  Marvell Technology Data Center Business Triples Over 2 Years As Custom Silicon And Optics Fuel Surge: ‘Expect This Momentum To Continue’

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