NAS:MRVL

Marvell Technology, Inc. – Common

Next Earnings Date: Thursday, August 27, 2026 (After US Market Close / 1:45 PM PT)

• Reporting Period: Q2 Fiscal Year 2027

Expected Revenue & Growth

• Consensus Revenue Estimate: ~$2.70B – $2.71B
• Company Guidance Range: $2.565B – $2.835B (Midpoint: ~$2.70B)
• Prior Year Comparison (Q2 FY2026): $2.01B
• Expected YoY Revenue Growth: ~34% to 35% YoY, powered by robust AI data center demand (electro-optics, custom silicon, and switching).

Marvell Technology, Inc. – Common is rated a buy with the stop loss at $177.57

Upcoming Earnings Outlook: Expected Release Date: August 27, 2026 (After Market Close)

• Fiscal Period: Q2 Fiscal Year 2027 (Quarter ending late July 2026)
• Consensus Estimates: Non-GAAP EPS: $0.87 – $0.93 per share (vs. $0.67 in Q2 FY2026, representing ~30%–38% YoY growth)
• Consensus Revenue: ~$2.60B – $2.71B (vs. $2.01B in Q2 FY2026, representing ~30%–35% YoY growth)

Key Drivers & Long-Term Growth Outlook: Marvell’s custom ASIC program (designing tailored AI chips for cloud hyperscalers like AWS, Google, and Microsoft) and optical connectivity solutions (800G / 1.6T DSPs) remain the primary catalyst.

• Accelerating Quarterly Trajectory: Management guided sequential revenue acceleration throughout FY2027, aiming for quarterly revenue to reach ~$3.0 billion in Q3 and Q4.

Full-Year FY2027 & FY2028 Targets:

• FY2027 Revenue: Expected to reach ~$11.5 billion (+40% YoY growth), driven by >50% growth in the Data Center segment and >70% growth in optical interconnects.
• FY2028 Target: Revenue guided toward ~$16.5 billion as cloud hyperscaler AI capital expenditure expands further.

Key Things to Watch on Earnings Day

1. Custom AI ASIC Shipments: Progress on hyperscaler customer design wins ramping into volume production.
2. Gross & Operating Margins: Non-GAAP gross margins (target zone ~59–60%) and expense control as R&D investment increases.
3. Hyperscaler AI Capex Trends: Any commentary on customer demand pacing for 800G/1.6T electro-optics and PCIe/CXL switches.
4. Supply Chain Capacity: Lead times and substrate/co-packaged optics assembly capacity.

Marvell Technology, Inc. – Common: Noted – Jensen Huang’s high-profile backing of the chipmaker at Computex.

Expected Revenue & Growth: Driven by accelerating AI data center and custom silicon demand, Marvell raised its growth guidance significantly during its last earnings call:

• Q2 FY2027 Revenue Guidance: Guided to $2.7 billion (±5%).

Year-over-Year (YoY) Growth: Represents ~35% YoY growth (beating previous consensus of $2.6 billion).
Sequential Growth: Represents ~12% sequential growth from Q1 FY2027.

• Full-Year FY2027 Revenue Outlook: Raised to ~$11.5 billion (up from prior guidance of ~$11.0 billion).

YoY Growth: Approximately 40% growth year-over-year.

• Full-Year FY2028 Revenue Outlook: Raised to ~$16.5 billion.

YoY Growth: Approximately 45% growth compared to