Marvell selloff deepens as investors seek clarity on Google AI deal payoff

MRVL•2026-08-28

Price targets rise despite the pullback

At least eight brokerages raised their price targets on Marvell following the results, with the median target of $275 implying a 13.8% upside from Thursday's close, according to data compiled by LSEG.

Thanks to more data-center revenue, the company expects revenue to grow about 45% in fiscal year 2027 and reach about $18 billion in fiscal year 2028.

Marvell trades at a premium compared to rival Broadcom AVGO.O, with a 12-month forward price-to-earnings ratio of 58.41 versus 32.15, according to data compiled by LSEG.

Shares fall as investors focus on Google deal timing

Chip designer Marvell Technology's MRVL.O shares fell more than 8% to $221.6 in early trading on Friday as investors looked beyond the company's solid results in search of fresh clues for long-term growth.

Marvell has become a market darling fueled by the AI spending boom as Big Tech races to adopt custom chips for greater cost efficiency and performance, powering its shares to nearly triple this year.

Marvell selloff deepens as investors seek clarity on Google AI deal payoff

Price targets rise despite the pullback

Shares fall as investors focus on Google deal timing

Analysts say Google upside was already partly baked in

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