Marvell Technology Inc (NASDAQ:MRVL) reported better-than-expected quarterly financial results on Thursday.

Marvell reported fourth-quarter revenue of $2.22 billion, narrowly beating the consensus estimate of $2.21 billion, while adjusted earnings came in at 80 cents per share — one cent ahead of expectations.

"We expect year-over-year revenue growth to accelerate each quarter in fiscal 2027, driven by continued strength in our data center business, with bookings continuing to grow at a record pace," said Matt Murphy, chairman and CEO of Marvell.

Marvell sees first-quarter revenue of $2.40 billion, plus or minus 5%. The company also guided first-quarter adjusted earnings of 79 cents per share, plus or minus five cents per share.

Marvell Technology shares jumped 23.2% to $93.25 on Friday.

These analysts made changes to their price targets on Marvell Technology following earnings announcement.

  • B of A Securities analyst Vivek Arya upgraded Marvell Technology from Neutral to Buy and raised the price target from $90 to $110.
  • Stifel analyst Tore Svanberg maintained the stock with a Buy and raised the price target from $114 to $120.
  • RBC Capital analyst Srini Pajjuri maintained Marvell Technology with an Outperform rating and raised the price target from $105 to $115.
  • Morgan Stanley analyst Joseph Moore maintained the stock with an Equal-Weight rating and raised the price target from $95 to $103.
  • Rosenblatt analyst Kevin Cassidy maintained the stock with a Buy and raised the price target from $115 to $140.
  • Citigroup analyst Atif Malik maintained Marvell Technology with a Buy and raised the price target from $113 to $118.
  • TD Cowen analyst Joshua Buchalter maintained the stock with a Hold and raised the price target from $85 to $90.
  • B. Riley Securities analyst Craig Ellis reiterated Marvell Technology with a Buy and raised the price target from $130 to $135.
  • Craig-Hallum analyst Christian Schwab maintained the stock with a Buy and raised the price target from $141 to $164.

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

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