Marvell Technology Inc (NASDAQ: MRVL) says continued strength in its custom AI chips business helped it beat Street estimates in its third financial quarter. Shares of the semiconductor behemoth have more than doubled since early August – but Wall Street remains convinced that they still haven't gotten ahead of themselves.
Shares were up 20% on Wednesday as Wall Street analysts welcomed the chip designer's earnings for the October quarter.
Marvell Technology delivered a stunning beat-and-raise in its fiscal Q3 earnings release. Marvell Technology has made significant strides toward its $75B market opportunity as the AI growth inflection continues unabated. MRVL's expensive valuation hasn't torpedoed its surging momentum, given the company's robust execution.
Marvell (MRVL) proves itself as a name to watch in the A.I. trade after posting an earnings beat and strong 4Q guidance.
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.