Wall Street is excited about Marvell's traction in custom offerings and partnership with Amazon's AWS.
Marvell Technology Inc (NASDAQ:MRVL) earlier issued upbeat fiscal-fourth quarter guidance due to artificial intelligence (AI) demand.
Marvell posted fiscal Q3 earnings and revenue that topped estimates amid strong demand for its custom chips for artificial intelligence applications. The post Nvidia Rival Marvell's Custom AI Chip Business Drives Earnings Beat.
Marvell Technology (MRVL) jumped in premarket trading Wednesday after the chipmaker posted strong quarterly results and issued a rosy outlook amid robust demand for its custom AI chips.
Marvell Technology Inc. MRVL reported better-than-expected third-quarter financial results and issued fourth-quarter guidance above estimates on Tuesday.
Marvell Technology's shares jumped over 13% in premarket trading on Wednesday after the chipmaker's optimistic forecast boosted investor confidence in AI-related stocks.
I reiterate a ‘Strong Buy' rating for Marvell Technology with a one-year target price of $130 per share due to robust growth in custom silicon solutions. Marvell's expanded partnership with Amazon AWS, including custom AI products and Ethernet switching silicon, strengthens its position in the AI computing market. Marvell reported 98% year-over-year growth in its data center business, driven by custom silicon ramp-up, with data centers now representing 72.6% of total revenue.
Marvell Technology, Inc. (NASDAQ:MRVL ) Q3 2025 Earnings Conference Call December 3, 2024 4:45 PM ET Company Participants Ashish Saran - Senior Vice President, Investor Relations Matt Murphy - Chairman & Chief Executive Officer Willem Meintjes - Chief Financial Officer Conference Call Participants Vivek Arya - Bank of America Ross Seymore - Deutsche Bank Harlan Sur - JPMorgan Toshiya Hari - Goldman Sachs Blayne Curtis - Jefferies Tom O'Malley - Barclays Mark Lipacis - Evercore Tore Svanberg - Stifel CJ Muse - Cantor Fitzgerald Chris Caso - Wolfe Research Atif Malik - Citi Srini Pajjuri - Raymond James Operator Good afternoon, and welcome to Marvell Technology, Inc. Third Quarter of Fiscal Year 2025 Earnings Conference Call. All participants will be in listen-only mode.
Although the revenue and EPS for Marvell (MRVL) give a sense of how its business performed in the quarter ended October 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Marvell Technology (MRVL) came out with quarterly earnings of $0.43 per share, beating the Zacks Consensus Estimate of $0.40 per share. This compares to earnings of $0.41 per share a year ago.
Marvell's results signal a gradually healthier business that's about more than just the AI boom.
Chipmaker Marvell Technology forecast fourth-quarter revenue above estimates on Tuesday, betting on robust demand for its custom artificial intelligence chips from businesses adopting booming generative AI technology.