Marvell shares fall 1.33% in premarket trading
Marvell Technology shares were down 1.33% at $203.74 in premarket trading Thursday as investors rotated away from elevated valuation technology stocks.
Marvell Technology Inc. shares eased in Thursday premarket trading, extending weakness from earlier sessions as investors rotated away from higher-valuation technology names and into defensive positioning in growth stocks. The stock had climbed 231% over the past 12 months, leaving it vulnerable to profit-taking as Nasdaq futures fell 0.15% and S&P 500 futures rose 0.03%. Last week, Marvell said second-quarter revenue rose 37% year-over-year to $2.74 billion, beating the $2.71 billion estimate.
Adjusted earnings were 94 cents per share versus 92 cents expected, and operating cash flow reached $605.5 million. Data center revenue increased 46% in the quarter. For the third quarter, Marvell forecast revenue of $3.15 billion, plus or minus 5%, compared with the $3.03 billion expectation. Marvell forecasts adjusted earnings of $1.10 per share, plus or minus 5 cents, versus the $1.07 consensus.
Recent analyst moves include Craig-Hallum: Buy with a target raised to $300 on Aug. 28; B. Riley Securities: Buy with a target lowered to $315 on Aug. 28; TD Cowen: Hold with a target raised to $245 on Aug.
28; Oppenheimer: Outperform with a target raised to $325 on Aug. 28; and Morgan Stanley: Equal-Weight with a target raised to $246 on Aug. 28. From a technical perspective, MRVL remains in a longer-term uptrend, but the near-to-intermediate setup is softer.
The stock is trading 9.1% below its 20-day SMA and 8.6% below its 50-day SMA, which often acts like a gravity zone during pullbacks. It is also 4.6% below the 100-day SMA, while still 35.6% above the 200-day SMA, leaving the long trend intact as the shares try to stabilize after losing altitude. The 50-day SMA remains above the 200-day SMA, a golden cross that occurred in October 2025, which typically supports buy-the-dip behavior as long as major supports hold. Traders will also be watching the stock’s recent swing high in June and swing low in July, which frame the current action as a range-bound correction.
Marvell Technology shares were down 1.33% at $203.74 in premarket trading on Thursday, according to Pro data. The move came after a sharp run in the stock.