TLDR
- Marvell stock surged over 8% on Friday, hitting an all-time high of $129.84 before closing at $128.49.
- Barclays upgraded MRVL to Overweight with a $150 price target, citing the optical networking market doubling in 2026 and again in 2027.
- NVIDIA made a reported $2 billion investment in Marvell, expanding their partnership focused on next-gen AI data centers.
- Q4 fiscal 2026 revenue rose 22% year-over-year to $2.22 billion, with EPS beating estimates at $0.80 vs the $0.79 consensus.
- Despite the rally, CEO Matt Murphy sold 30,000 shares in late March, and the COO sold 10,000 shares in early April.
Marvell Technology had quite a week. The stock closed Friday at $128.49, marking its first record finish since January 2025 and putting it on track for its best weekly gain since December 2024. The stock is now up over 51% year-to-date and has roughly doubled over the past year.
Marvell Technology, Inc., MRVL
The fuel behind the move? AI and optical networking — and a lot of it.
Barclays analyst Tom O’Malley upgraded MRVL to Overweight from Equal Weight, raising his price target to $150. He was direct about the thesis: the market for optical ports is expected to double this year and again in 2027, which could translate into roughly 90% growth in Marvell’s optical business across both periods.
“Marvell is first and foremost an optical company,” O’Malley wrote, “and with ports growing rapidly the market growth carries the name alone.”
Craig Hallum also raised its price target to $164, while Stifel lifted theirs to $120. The MarketBeat consensus sits at a “Moderate Buy” with an average target of $119.21 — which the stock has now comfortably blown past.
NVIDIA Deal and Strategic Partnerships Add Fuel
The other big catalyst was a reported $2 billion investment from NVIDIA, part of an expanded partnership to support next-generation AI data centers and high-speed connectivity. The news reinforced Marvell’s position in the AI infrastructure stack and brought fresh buyers into the stock.
Bank of America also flagged Marvell as one of its top “AI compute” picks alongside AMD, pointing to Marvell’s leadership in high-speed networking and data center switching. The bank noted that hyperscalers like Alphabet and Microsoft continue to pour money into AI infrastructure — and suppliers like Marvell are set to benefit.
Institutional ownership stands at 83.51% of the float. Bullish options flow also picked up during the week, with around 133,888 calls traded — roughly 40% above average — suggesting some aggressive positioning from traders.
Strong Earnings, But Insiders Selling
The fundamentals back up the excitement, at least on the surface. In Q4 fiscal 2026, Marvell reported revenue of $2.22 billion, up 22.1% year-over-year and slightly ahead of estimates. EPS came in at $0.80, beating the $0.79 consensus. For the full fiscal year, revenue climbed 42% to $8.19 billion, with EPS hitting $3.07. The company guided Q1 2027 EPS of $0.74–$0.84.
CEO Matt Murphy pointed to “robust AI demand” as a key driver heading into fiscal 2027.
That said, not everyone at the top is buying more. CEO Murphy sold 30,000 shares on March 26 at an average price of $98.70. COO Chris Koopmans sold 10,000 shares on April 6 at $110.24. Both sales were executed under pre-arranged Rule 10b5-1 plans.
In total, insiders have sold around 109,168 shares worth roughly $11.1 million over the past 90 days.
Marvell’s 12-month low was $48.09. Friday’s all-time high of $129.84 is a very different story.
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