Key Stats for Marvell Technology Stock
- Price change for Marvell Technology stock in the last 6 months: 162%
- $MRVL Stock Price as of Oct. 6: $287
- 52-Week High: $330
- $MRVL Stock Price Target: $294
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What Happened?
Marvell Technology (MRVL) shares jumped about 6% on Tuesday after the company held its Investor Day and raised its outlook.
Marvell now expects about $20 billion in revenue for fiscal 2028. In August, the target was $18 billion. Analysts were expecting $18.2 billion, according to LSEG.
The bigger news was the long-term target.
Marvell sees fiscal 2031 revenue of $70 billion to $90 billion. The midpoint is $80 billion. Wall Street estimates were $46.85 billion, per Visible Alpha.
Last year, Marvell’s revenue was $8.2 billion.
Custom chips are a big part of this forecast.
Marvell now expects more than $12 billion in custom revenue in fiscal 2029. The old target was $10 billion.
It also has a deal with Google that could bring up to $120 billion in sales through fiscal 2033. That depends on performance milestones.
Rival Broadcom rose about 4%, and Marvell Technology stock has more than tripled this year.
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What the Market Is Telling Us About Marvell Technology Stock
The company is guiding far above what analysts expected.
Management also showed how it plans to get there. It sees a $400 billion market by 2030 and expects data center spending to grow about 35% a year. Marvell’s revenue is forecast to grow 55% to 60% a year.
CFO Dan Durn said earnings could top $30 per share in fiscal 2031. His shorthand was “$30 in ’30.”
Management also said no single big customer win is needed. CEO Matt Murphy said the plan is built from existing customers and programs.
Still, this is a five-year forecast. Murphy admitted the market is dynamic.
Marvell Technology stock has already had a huge run. Investors will want to see if the company keeps hitting its numbers.
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So what is Marvell stock actually worth?
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
