Marvell Technology Group (MRVL) Stock News

Marvell Technology, Microsoft and Oracle have formed a new Open Compute Project working group to define open specifications for a NIST FIPS 140-3 Level 3 integrated hardware security module for cloud and hyperscale data center infrastructure.

Marvell Technology announced the Structera X 3406 and 3506, six-channel CXL 3.2 memory expanders for AI inference. The devices target hyperscale datacenters needing higher memory bandwidth and capacity for large AI models.

Marvell Technology shares slipped 1.5% Wednesday to $282.73, paring Tuesday's 5.8% jump after the company unveiled aggressive five-year revenue and earnings targets at an investor day. At least 18 analysts raised price targets, with StoneX and Oppenheimer boosting their views to $375 and $425 respectively. The company expects revenue to grow 55-60% annually through fiscal 2031, reaching $70-90 billion, with adjusted EPS above $30. Shares are up 238% year-to-date on AI demand.

TD Cowen raised its rating on Marvell Technology to Buy from Hold, signaling improved analyst confidence in the chipmaker.

Marvell Technology guided for custom silicon revenue above $12 billion in fiscal 2029, up from a prior $10 billion target. The increase comes almost entirely from XPU attach products — data-center storage, networking, and management hardware. COO Chris Koopmans said the category has grown faster than expected and offers higher margins than custom compute chips. The company also sees total revenue reaching $20 billion in fiscal 2028 and $70-90 billion by fiscal 2031. Shares rose 5.8% on the day.

Marvell Technology CEO Matt Murphy unveiled a long-term revenue target of $70 billion to $90 billion by fiscal 2031, driving shares up 5.8%. The company also raised its fiscal 2028 revenue estimate to $20 billion.

Marvell Technology shares rose 7.2% after CEO Matt Murphy set a fiscal 2031 revenue target of $70B-$90B, up from $8.2B in fiscal 2026, implying roughly 55-60% annual growth. The custom chip business is expected to contribute $30B at the midpoint, while the interconnect business accounts for $37.5B.

Seaport Analyst Sees Gains for Marvell, On Semi, Semtech in AI Data-Center Buildout.

GlobalFoundries and Marvell signed a multi-year agreement to expand silicon germanium manufacturing at GF's Vermont facility for next-gen AI optical interconnects. Financial terms not disclosed.

Oppenheimer raised its price target on Marvell Technology to $325 from $300. The previous target was $300.

Marvell beats Q2 estimates, lifts Q3 guidance on AI strength.

Wells Fargo lifts Marvell Technology target price to $310 from $240.

Marvell grants Google warrant for up to 59M shares tied to custom-chip partnership.