MRVL Stock Jumps 6% As Top Wall Street Firms Furnish Bullish Signals Ahead Of Marvell Earnings

Jefferies expects Marvell to report a ‘beat and raise’ quarter ahead of the company's earnings print due on August 27.

• BMO Capital initiated Marvell with an Outperform rating.
• UBS raised its price target on MRVL stock to $310 from $300, a 23.5% upside from Thursday’s closing price. 
• Jefferies says ‘pieces are coming together’ for Marvell ahead of earnings.

Marvell Technologies (MRVL) share price jumped nearly 6% on Thursday following a host of positive updates from Wall Street ahead of the chipmaker’s quarterly earnings later next week. 

The stock gained for the second straight day, with most of the optimism coming from its deal with Google to deliver custom silicon for the Gemini maker’s AI buildout.

MRVL’s Deal With Alphabet

Marvell Technology Inc. on Wednesday agreed to give Alphabet Inc.’s (GOOGL) Google rights to buy as much as $12.2 billion of its shares in exchange for purchasing chips.  

Around 1.4 million warrant shares are scheduled to vest during the partnership’s initial year, Marvell’s official filing noted. Subsequent tranches will unlock incrementally, contingent on Google’s commitment to purchase chips in $500 million installments.

Marvell's hardware will mostly strengthen Google’s Tensor Processing Units (TPUs), which have become a cornerstone for enterprises developing and deploying large-scale AI frameworks. This move underscores a broader industry shift as Alphabet and its peers look to own their own silicon. 

Wall Street Is Positive On MRVL Stock Ahead Of Results 

BMO Capital Markets initiated Marvell with an ‘Outperform’ rating and set a $250 price target, which matched the stock’s Thursday closing price. 

The firm highlighted Marvell as a premier semiconductor provider for data center infrastructure, specifically noting its critical role in delivering optical networking solutions to hyperscalers. The analyst told investors that the company is executing effectively across several strategic fronts, according to TheFly.

Roth Capital increased its price target on MRVL stock to $350 from $275, maintaining a Buy rating, while UBS hiked its target to $310 per share, a 25% upside from Thursday’s close. Both firms adjusted their targets after Marvell disclosed a commercial partnership with Google to provide custom attach products for AI inference tasks.

Jefferies was also bullish on Marvell with a Buy rating and a $325 price target ahead of the chipmaker's earnings print on August 27. The firm noted that the investment thesis for MRVL has "materially improved" recently, citing reports that Microsoft may re-engage with Marvell's custom silicon initiatives, according to TheFly. 

Marvell is expected to report revenue of $2.71 billion, compared to $2.01 billion in the same quarter last year, according to analysts polled by Fiscal.ai. Earnings are expected to come in at $0.93 per share for the quarter ending July this year. 

MRVL Stock: Retail View 

Retail sentiment on Stocktwits was ‘extremely bullish’ with ‘high’ message volumes. Retail chatter on the stock has surged about 94% over the past week. 

MRVL stock has surged 194% year-to-date. 

For updates and corrections, email newsroom[at]stocktwits[dot]com.<