Marvell Sees Record $2.16B Q4 Revenue, Focus Shifts to Data Center Guidance
Marvell Technology is projected to report Q4 revenue of $2.16B and EPS of $0.71, up from $1.82B and $0.60 a year ago, marking a third consecutive quarter above $2B in sales. Investors will focus on management’s data center revenue forecast and timing of Celestial AI’s contributions to growth.
1. Q4 Revenue and EPS Projections
Marvell Technology is expected to report Q4 revenue of $2.16B and EPS of $0.71, up from $1.82B and $0.60 a year earlier. This would mark a third consecutive quarter with revenue above $2B and set a new quarterly sales record.
2. Analyst Ratings and Price Targets
JPMorgan maintains an Overweight rating with a $130 price target, while Evercore sees an Outperform rating at $133. Other targets include UBS at $120, Needham at $118, Morgan Stanley at $95 and Cantor Fitzgerald at $100.
3. Data Center Guidance Focus
Investors will scrutinize management’s outlook for data center revenue growth as major U.S. hyperscalers increase capex plans. CEO Matt Murphy previously indicated an upward revision to next year’s data center forecast based on accelerating demand.
4. Celestial AI Acquisition Impact
Marvell’s acquisition of Celestial AI could begin contributing revenue in the second half of fiscal 2028, highlighted by a major design award from Amazon. Analysts view potential earlier contributions or delays in this timeline as key drivers of long-term growth.