FY2028 EPS Estimate for Marvell Technology Raised by Analyst

Key Points

• Erste Group Bank raised Marvell Technology’s FY2028 EPS estimate to $6.10 from $5.38, though it maintained a Hold rating. The broader analyst consensus remains more bullish, with the stock carrying a Moderate Buy average rating and a $320.82 target price.
• Marvell’s latest quarter modestly exceeded expectations, with $0.94 EPS and $2.74 billion in revenue; revenue increased 36.5% year over year. The company issued Q3 FY2027 EPS guidance of $1.05–$1.15.
• Shares opened at $268.73, while the stock remains richly valued at roughly 89 times earnings. Institutional investors own 83.51% of shares, and insiders have sold more than $10.2 million of stock over the past three months.

Marvell Technology, Inc. (NASDAQ:MRVL - Free Report) - Research analysts at Erste Group Bank increased their FY2028 earnings per share (EPS) estimates for Marvell Technology in a note issued to investors on Thursday, October 8th. Erste Group Bank analyst S. Lingnau now anticipates that the semiconductor company will post earnings of $6.10 per share for the year, up from their previous forecast of $5.38. Erste Group Bank currently has a "Hold" rating on the stock. The consensus estimate for Marvell Technology's current full-year earnings is $3.05 per share.

Marvell Technology (NASDAQ:MRVL - Get Free Report) last released its quarterly earnings data on Thursday, August 27th. The semiconductor company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.93 by $0.01. Marvell Technology had a return on equity of 13.57% and a net margin of 27.93%. The company had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.72 billion. During the same period last year, the firm posted $0.67 earnings per share. Marvell Technology's revenue was up 36.5% compared to the same quarter last year. Marvell Technology has set its Q3 2027 guidance at 1.050-1.150 EPS.

A number of other analysts also recently issued reports on MRVL. B. Riley Financial dropped their price target on shares of Marvell Technology from $345.00 to $315.00 and set a "buy" rating on the stock in a report on Friday, August 28th. Bank of America boosted their price objective on shares of Marvell Technology from $240.00 to $365.00 and gave the company a "buy" rating in a report on Tuesday, June 23rd. Evercore restated an "outperform" rating and set a $433.00 price objective on shares of Marvell Technology in a research report on Tuesday, October 6th. Benchmark restated a "buy" rating on shares of Marvell Technology in a research report on Monday, August 24th. Finally, KeyCorp restated an "overweight" rating on shares of Marvell Technology in a report on Wednesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Marvell Technology currently has an average rating of "Moderate Buy" and an average target price of $320.82.

Marvell Technology Price Performance

Shares of NASDAQ:MRVL opened at $268.73 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.62 and a current ratio of 3.17. The firm has a market cap of $235.65 billion, a price-to-earnings ratio of 88.69, a price-to-earnings-growth ratio of 7.92 and a beta of 2.26. The business has a 50-day simple moving average of $239.66 and a two-hundred day simple moving average of $213.96. Marvell Technology has a fifty-two week low of $70.68 and a fifty-two week high of $329.88.

Institutional Trading of Marvell Technology

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its position in shares of Marvell Technology by 34.1% during the second quarter. BlackRock Inc. now owns 85,641,174 shares of the semiconductor company's stock worth $25,511,649,000 after acquiring an additional 21,798,190 shares during the last quarter. State Street Corp increased its holdings in Marvell Technology by 79.3% in the 2nd quarter. State Street Corp now owns 41,834,272 shares of the semiconductor company's stock valued at $12,462,011,000 after acquiring an additional 18,495,866 shares during the last quarter. Bank of America Corp DE bought a new stake in Marvell Technology in the 2nd quarter valued at $2,607,795,000. Bank of New York Mellon Corp lifted its stake in Marvell Technology by 153.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 7,957,985 shares of the semiconductor company's stock worth $2,370,604,000 after purchasing an additional 4,815,725 shares in the last quarter. Finally, Legal & General Group Plc purchased a new stake in Marvell Technology in the 2nd quarter worth $1,742,526,000. 83.51% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Marvell Technology news, CEO Matthew Murphy sold 7,500 shares of the business's stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $223.39, for a total transaction of $1,675,425.00. Following the completion of the sale, the chief executive officer directly owned 775,686 shares in the company, valued at $173,280,495.54. The trade was a 0.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Justin Scarpulla sold 1,100 shares of the business's stock in a transaction dated Thursday, October 8th. The shares were sold at an average price of $273.59, for a total value of $300,949.00. Following the sale, the chief accounting officer owned 909 shares of the company's stock, valued at approximately $248,693.31. This represents a 54.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 46,100 shares of company stock valued at $10,205,174. Insiders own 0.12% of the company's stock.

Marvell Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 29th. Shareholders of record on Friday, October 9th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Friday, October 9th. Marvell Technology's dividend payout ratio (DPR) is presently 7.92%.

Marvell Technology News Summary

Here are the key news stories impacting Marvell Technology this week:

• Positive Sentiment: Marvell raised its fiscal 2028 revenue target to approximately $20 billion, above Wall Street’s $18.2 billion consensus, and outlined a potential $70 billion–$90 billion revenue opportunity by fiscal 2031. The company expects data-center revenue to reach roughly $18 billion in fiscal 2028, driven by custom silicon, connectivity and optical products. Marvell: A Strong Buy With a $90 Billion Opportunity
• Positive Sentiment: Erste Group Bank increased its fiscal 2028 earnings estimate to $6.10 per share from $5.38, signaling improving long-term profitability expectations, although it retained a Hold rating. Marvell Technology analyst estimate
• Positive Sentiment: New products—including Structera X CXL 3.2 memory expanders, a 3.2T protocol-aware retimer and a 1.6T active electrical-cable DSP—target the growing need for memory capacity, bandwidth and power efficiency in AI data centers. Marvell also joined Microsoft and Oracle in an Open Compute Project security-standardization effort. Marvell Unveils Second-generation Structera X
• Neutral Sentiment: Analyst coverage remains constructive on Marvell’s custom-chip and networking opportunity, including potential demand from Microsoft’s Maia 300 AI program, but commentary emphasizes that the stock’s strong run has already priced in substantial future growth.
• Negative Sentiment: Recent weakness reflects profit-taking after a gain of more than 200% during 2026, along with insider selling and a broader retreat in AI semiconductor shares. Marvell’s valuation—about 89 times earnings and a PEG ratio near 8—leaves limited room for execution disappointments. Marvell Technology Stock Price Down After Insider Selling

Marvell Technology Company Profile

Marvell Technology, Inc NASDAQ: MRVL is a fabless semiconductor company that develops technologies for data infrastructure. Its products are used to move, process, store and secure data across cloud data centers, enterprise networks, telecommunications systems, automotive platforms and other communications applications.

The company's portfolio includes custom application-specific integrated circuits, data processing and networking solutions, Ethernet products, storage controllers, optical and electro-optical components, and connectivity technologies.

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