Marvell eases ahead of results; AI chip demand in focus
MRVL•Analyst views and stock performance
38 of 44 analysts rate the stock "buy" or "strong buy" and six rate it a "hold".
Median Wall Street PT is $271.06; stock is last at $243.95.
MRVL has surged ~187% year to date vs the Nasdaq's .IXIC roughly 14% rise, and a PHLX Semiconductor Index .SOX advance of 67%.
Street expectations and key focus areas
MRVL, a maker of data infrastructure chips, is expected to post quarterly revenue up about 35% to $2.71 billion from $2.01 billion, and adjusted EPS of $0.92 vs $0.67 a year ago, per LSEG.
Focus will be on commentary around its new partnership to develop custom chips for Alphabet's GOOGL.O Google.
In May, MRVL said it expected its data center business to grow by about 50% this year, a key metric investors will be watching.
Marvell slips ahead of quarterly results
Shares of Marvell Technology MRVL.O were falling 0.5% on Thursday ahead of quarterly results, due after the closing bell, with investors looking for updates on AI chip demand and its recent Google partnership.
Chip shares were mostly higher on the day following a blockbuster report from Nvidia NVDA.O late Wednesday.
