Prediction: Marvell Stock Could Be on the Verge of Another Big Move

Marvell (MRVL) shares fell 10% to $217 after CEO Matt Murphy stated that the $12B Google warrant was already included in prior guidance. Despite a 1.2% revenue beat, investors reacted negatively, reversing recent gains. Murphy sold 7,500 shares at $236.08 on Aug. 17. The company raised FY2027 revenue guidance to ~$12B and FY2028 to ~$18B.

Marvell Technology reported Q2 revenue of $2.7B, up 37%, and raised its 2026 and 2027 revenue guidance. Despite this, shares fell 8% due to concerns about the timing of its Google partnership's financial impact. Oppenheimer raised its price target to $325, citing strong data center demand and the Google deal.

Marvell Technology (MRVL) reported record Q2 2027 revenue of $2.74B, beating estimates, and raised fiscal 2028 revenue outlook to $18B. Despite this, shares fell 10.3% due to softer-than-expected guidance and timing of a hyperscaler deal. Management attributed revenue raise to connectivity, not custom silicon, with meaningful contributions starting in fiscal 2029. Non-GAAP gross margin was 58.9% in Q2 2027, with fiscal 2028 margin expected to align with the back half of fiscal 2027.

Broadcom (AVGO) and Marvell (MRVL) reported Q2 revenues of $22.2B and $2.739B, respectively, both focusing on custom silicon for hyperscalers. AVGO has a 20x forward P/E and $100B+ AI revenue guidance, while MRVL offers higher growth at 60x P/E. Both face risks from hyperscaler spending slowdowns.

Marvell (MRVL) reported Q2 fiscal 2027 revenue of $2.739B, up 37% YoY, with data center sales rising 46% YoY. The company raised its full-year outlook to $12B and fiscal 2028 to $18B, citing strong AI demand. Data center growth guidance increased to 60% for fiscal 2027 and over 60% for fiscal 2028. Non-GAAP operating margin was 36.6%, up 180 bps YoY.

Yuanta Securities highlights NVIDIA's expanded partnership with MediaTek, including a $3.5B investment, to strengthen AI infrastructure. MediaTek will join NVIDIA's NVLink Fusion ecosystem, enabling custom XPU designs for data centers, devices, and automotive platforms. Yuanta sees potential benefits for NVIDIA, MediaTek, Marvell, Astera Labs, Broadcom, Synopsys, Cadence, and TSMC.