TLDR
- MRVL rose 9% Monday, driven by a broad market rally following a U.S.-Iran peace deal announcement
- B. Riley raised its price target to $345, citing Marvell’s deepening partnership with Nvidia and AI infrastructure role
- Former Adobe CFO Dan Durn joined as CFO effective June 15, replacing Willem Meintjes
- Marvell reaffirmed its fiscal Q2 2027 outlook; next earnings expected August 27, with EPS of $0.88 forecast
- The stock is up over 229% year-to-date and trades above all key moving averages
Marvell Technology (MRVL) stock climbed 9% to $290.63 on Monday, riding a broader market wave that pushed the Nasdaq up 2.68%. The catalyst: President Trump announced a peace deal with Iran, which knocked crude oil prices lower and lifted sentiment toward growth and tech names.
Marvell Technology, Inc., MRVL
B. Riley Securities added fuel to MRVL’s run, raising its price target to $345 on June 12 while keeping a Buy rating. The firm pointed to Marvell’s growing partnership with Nvidia and its central role in AI data center infrastructure as the key drivers.
That price target sits just above the stock’s 52-week high of $324.20, which now acts as the next technical resistance level to watch.
Rosenblatt also maintained its Buy rating with a $240 target on June 12. Barclays reiterated Overweight with a $275 target on May 29. Out of 50 analyst ratings, the consensus sits at Buy, though the average price target of $233.50 is well below where the stock is currently trading.
New CFO Takes the Helm
Marvell named Dan Durn as its new CFO, effective June 15. Durn comes from Adobe, where he held the same role. Outgoing CFO Willem Meintjes will stay on as an adviser through April 2027.
CEO Matt Murphy described the hire as a strong fit for what he called a “once-in-a-generation AI infrastructure build-out.” Durn brings semiconductor experience and capital markets background to the role.
The company also reaffirmed the fiscal Q2 2027 guidance it originally issued on May 27, giving investors no reason to walk back their optimism.
Technical Picture
MRVL has been on a tear. The stock is up more than 320% over the past year and trades 25.9% above its 20-day moving average of $233.66. It sits 171.1% above the 200-day moving average of $108.52.
The moving average structure is bullish — 20-day above 50-day, 50-day above 200-day — following a golden cross in October 2025. The MACD is above its signal line with a positive histogram, suggesting buying pressure is building.
Year-to-date, MRVL is up 229.54%. Average daily trading volume sits at around 34.79 million.
The stock is a top holding in several semiconductor ETFs: SOXX at 6.15%, ARTY at 6.37%, and FTXL at 5.79%.
Earnings are due August 27. Wall Street is forecasting EPS of $0.88, up from $0.67 a year ago. Revenue is expected to hit $2.70 billion, compared to $2.01 billion in the prior-year period. The stock currently trades at a P/E of 96.1.
Marvell’s market cap stands at $244.7 billion.
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