TLDR
- Marvell (MRVL) is expected to report Q1 revenue of $2.4 billion, up 27% year-over-year.
- Analysts forecast adjusted EPS of $0.79 for the April quarter.
- Two major analysts raised price targets ā Stifel to $210, Wells Fargo to $195.
- MRVL stock is up over 130% this year, setting a high bar for the earnings print.
- Insider selling of $29.9 million over the past three months has raised some eyebrows.
Marvell Technology (MRVL) stock trades around a market cap of $182 billion heading into Wednesday’s earnings report, with the stock up more than 130% in 2026. That kind of run puts serious pressure on the company to deliver.
Marvell Technology, Inc., MRVL
Analysts tracked by FactSet expect first-quarter revenue of $2.4 billion ā a 27% jump from the $1.9 billion reported in the same period last year. Adjusted earnings are forecast at $0.79 per share.
The big driver is AI. Marvell makes custom integrated circuits, optical-networking products, and custom silicon ā all of which are in heavy demand as data center buildouts accelerate.
Around 75% of Marvell’s revenue comes from its Data Center segment, according to Stifel analyst Tore Svanberg, who rates the stock Buy and raised his price target last week to $210 from $140.
Wells Fargo’s Aaron Rakers also bumped his target, moving it to $195 from $135 while keeping an Overweight rating. Rakers wrote that he believes MRVL can grow revenue “at a 15-20% pace over the long term.”
Hyperscalers ā cloud giants like Microsoft ā are pouring hundreds of billions into AI infrastructure this year. That spending feeds directly into Marvell’s order book.
High Expectations Heading Into the Print
A 130% gain in a single year means the market has already priced in a lot of good news. Investors won’t just be looking for a beat ā they’ll want a strong forward guide to justify the valuation.
Marvell currently trades at a P/E ratio of 67.62x. That’s well above historical norms and signals the market is paying a premium for future growth, not just current earnings.
The GuruFocus GF Score sits at 76/100, with a perfect 10/10 Growth Rank. Profitability comes in at 5/10, suggesting margins still have room to improve.
HSBC has set a price target of $300 on the stock, one of the most bullish calls on Wall Street right now.
Insider Selling Adds a Note of Caution
Not everyone close to the company has been buying. Over the past three months, insiders sold $29.9 million worth of MRVL stock, with no purchases reported during the same period.
Insider selling doesn’t always signal trouble, but it’s worth noting before a major catalyst like earnings. It adds a layer of caution to an otherwise bullish setup.
Marvell is set to report after the close on Wednesday, May 28.
The company’s Financial Strength is rated 7/10, pointing to a solid balance sheet even as the valuation remains stretched.
Wells Fargo’s Rakers also highlighted the potential for margin expansion as Marvell scales, calling out “leading operating margins” as a key part of the long-term story.
Gross margins have shown some recent pressure, which analysts are watching closely alongside the top-line numbers.
The earnings call will likely focus on AI custom chip demand, data center revenue growth, and any updated guidance on hyperscaler contracts.
Marvell reports first-quarter results after market close on Wednesday, May 28, 2026.
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