Marvell Technology Inc. (NASDAQ:MRVL) reported better-than-expected third-quarter financial results and issued fourth-quarter guidance above estimates on Tuesday.
Marvell Technology reported quarterly earnings of 43 cents per share, which beat the analyst consensus estimate of 41 cents. Quarterly revenue came in at $1.52 billion, which beat the consensus estimate of $1.46 billion and is an increase over sales of $1.42 billion from the same period last year.
"Marvell's fiscal third quarter 2025 revenue grew 19% sequentially, well above the mid-point of our guidance, driven by strong demand from AI. For the fourth quarter, we are forecasting another 19% sequential revenue growth at the midpoint of guidance, while year-over-year, we expect revenue growth to accelerate significantly to 26%, marking the beginning of a new era of growth for Marvell," said Matt Murphy, Marvell's CEO.
Marvell sees fourth-quarter earnings of 59 cents per share, plus or minus five cents, versus the 52-cent estimate. The company expects fourth-quarter revenue of $1.8 billion, plus or minus 5%, versus the $1.65 billion estimate.
Marvell Technology shares fell 1% to close at $95.91 on Tuesday.
These analysts made changes to their price targets on Marvell Technology following earnings announcement.
- Barclays analyst Blayne Curtis maintained Marvell Tech with an Overweight and raised the price target from $85 to $115.
- Needham analyst Quinn Bolton maintained the stock with a Buy and raised the price target from $95 to $120.
- Benchmark analyst Cody Acree reiterated Marvell Tech with a Buy and raised the price target from $115 to $135.
- Rosenblatt analyst Hans Mosesmann maintained the stock with a Buy and boosted the price target from $120 to $140.
- B of A Securities analyst Vivek Arya maintained Marvell Tech with a Buy and raised the price target from $108 to $125.
- Evercore ISI Group analyst Mark Lipacis maintained Marvell Tech with an Outperform and raised the price target from $122 to $127.
- Morgan Stanley analyst Joseph Moore maintained Marvell Tech with an Equal-Weight and raised the price target from $82 to $102.
- Stifel analyst Tore Svanberg reiterated Marvell Tech with a Buy and raised the price target from $114 to $125.
- Susquehanna analyst Christopher Rolland maintained Marvell Tech with a Positive and raised the price target from $110 to $125.
Considering buying MRVL stock? Here’s what analysts think:
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