Marvell (MRVL) Reiterated at Buy by UBS After Modest Beat and Raise Results

UBS analyst Timothy Arcuri reiterated a Buy rating and $310.00 price target on Marvell (NASDAQ: MRVL).

The analyst commented, "MRVL delivered a modest beat/raise, though we suspect the result was viewed more as a meet rather than beat by an investor base that had grown increasingly constructive into the print amid strong optical/interconnect commentary across the group and heightened expectations following the recently announced $120B Google warrant. MRVL increased FY27 revenue expectations by ~$0.5B and FY28 by ~$1.5B, driven by stronger interconnect/optical trends, improving confidence in key custom ASIC programs, and continued momentum in switching. Even so, we suspect much of this was already reflected in buy-side models. Importantly, Google commentary remained skewed toward XPU attach, with limited incremental detail on the inference accelerator itself and a discussion of the range of outcomes deferred to the October 6 Analyst Day. Management also noted that Google warrant programs shipping in FY27/FY28 are already largely reflected in the outlook, with more meaningful upside expected in FY29 and beyond."

For an analyst ratings summary and ratings history on Marvell click here. For more ratings news on Marvell click here.

Shares of Marvell closed at $241.45 yesterday.

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