Marvell shares slip as analysts raise targets after guidance
Marvell Technology shares fell 1.5% to $282.73 on Wednesday after the company forecast adjusted earnings of more than $30 per share and revenue of $70 billion to $90 billion for fiscal 2031. Multiple analysts raised price targets following the guidance, including StoneX’s Cody Acree to $375 from $275 and Oppenheimer’s Rick Schafer to $425 from $325.
By George Glover Marvell Technology is getting a ton of praise on Wall Street -- but perhaps that's only natural for a company that said it expects revenue to surge by 55% to 60% a year for the next half-decade. At least 18 analysts have raised their price targets so far this week, according to FactSet data. That came after the chip and networking company set ambitious growth targets at an investor day in New York. One of those bulls is StoneX's Cody Acree, who raised his price target to $375 from $275 late Tuesday.
The investor day "reset both the size and duration of Marvell's AI opportunity," he wrote in a research note. Acree rates the stock Buy. His new price target implies shares can rally 31% from their level as of Tuesday's close. "Tone was unequivocally bullish, topping expectation, as management materially raised financial targets," Oppenheimer analyst Rick Schafer said on Wednesday as he hiked his own price target to $425 from $325.
Schafer rates Marvell at Outperform. The catalyst for the price-target hikes was Marvell's stellar guidance. The company forecast adjusted earnings of more than $30 a share and revenue of $70 billion to $90 billion in fiscal 2031. 2 billion.
8% on Tuesday, rallying as soon as CEO Matt Murphy unveiled the revenue target. They have risen 238% in 2026, soaring thanks to the AI boom driving up demand for chips and networking products. com This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
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