Gold prices hit 4-month high on Fed easing hopes, tariff uncertainty
Investing.com - Piper Sandler maintained its Overweight rating and $85.00 price target on Marvell (NASDAQ:MRVL) following the company’s mixed guidance for October. The stock, currently trading at $77.23 with a market capitalization of $67.2 billion, has shown strong momentum with a 10.95% return over the past year.
The research firm noted that Marvell’s revenue guidance came in slightly below expectations while earnings per share guidance was slightly above forecast. The primary factor behind the revenue miss was the exclusion of the automotive business, which Marvell recently sold. Despite these challenges, InvestingPro data shows impressive revenue growth of 37% in the last twelve months.
Piper Sandler expressed frustration with the lack of growth in Marvell’s data center business despite multiple custom XPU and attach program wins. The firm is forecasting a 16% growth rate for the data center segment in its model.
For the October quarter, Marvell’s data center business is projected to remain flat due to the timing of custom program wins. Piper Sandler forecasts approximately $100 million sequential growth in this segment for the fourth quarter of fiscal year 2026.
The research firm reduced its financial estimates for Marvell but maintained its Overweight rating on the stock, suggesting continued confidence in the company’s long-term prospects despite near-term challenges. Based on InvestingPro’s Fair Value analysis, Marvell appears to be trading near its fair value, with analysts setting price targets ranging from $64.31 to $133.00.
In other recent news, Marvell Technology Inc. reported its second-quarter fiscal year 2026 earnings, highlighting substantial growth in both revenue and earnings per share (EPS). The company achieved a record non-GAAP EPS of $0.67, aligning with market expectations. Marvell’s revenue reached $2.006 billion, representing a notable increase of 58% compared to the previous year. These earnings results reflect strong performance and have garnered positive attention from investors. Additionally, analysts from various firms have been evaluating the company’s financial outcomes. While specific analyst upgrades or downgrades were not mentioned, the earnings report itself has been a focal point for investor consideration. These developments indicate that Marvell Technology is maintaining a solid trajectory in its financial performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.