Marvell Technology (MRVL) Stock Gains 14% on Better Than Expected Q3 Results

Marvell (MRVL) PT Raised to $98 at Jefferies

Jefferies analyst Mark Lipacis raised the price target on Marvell (NASDAQ: MRVL) to $98.00 (from $82.00) while maintaining a Buy rating following results.

The analyst commented, "MRVL remains a top pick after posting 12% EPS beat for both 3Q reported and 4Q outlook, and... More

Marvell (MRVL) PT Raised to $100 at Susquehanna

Susquehanna analyst Christopher Rolland raised the price target on Marvell (NASDAQ: MRVL) to $100.00 (from $82.00) while maintaining a Positive rating.

The analyst commented, "While we had previewed another beat and raise, we hadnt expected anything this good. Better long-term growth driven by hyperscale custom silicon, 5G and auto."

Marvell (MRVL) PT Raised to $120 at Rosenblatt; 'Just Pulled an Nvidia'

Rosenblatt analyst Hans Mosesmann raised the price target on Marvell (NASDAQ: MRVL) to $120.00 (from $100.00) while maintaining a Buy rating following results.

The analyst commented, "Marvell just pulled an Nvidia on the Street last night, with an unambiguous beat and raise and taking FY23 sales... More

Marvell (MRVL) PT Raised to $100 at Needham & Company

Needham & Company analyst Quinn Bolton raised the price target on Marvell (NASDAQ: MRVL) to $100.00 (from $75.00) while maintaining a Buy rating following results.

The analyst commented, "Marvell delivered impressive results and provided F4Q22 revenue guidance that was well above expectations due to... More

Marvell Technology (MRVL) Tops Q3 EPS by 5c

Marvell Technology (NASDAQ: MRVL) reported Q3 EPS of $0.43, $0.05 better than the analyst estimate of $0.38. Revenue for the quarter came in at $1.21 billion versus the consensus estimate of $1.15 billion.

GUIDANCE:

Marvell Technology sees Q4 2022 EPS of $0.45-$0.51, versus the consensus of ($0.42).... More