Marvell Technology shares have fallen 20.64% over the past three months, sliding from $307.78 to $244.25, even as the company posted 37% year-over-year revenue growth and raised guidance twice. Data center revenue reached $2.17 billion, up 46% year over year, and now accounts for 79% of company revenue, while the pullback followed a first-half run that still leaves shares up 187.84% in 2026. KeyBanc Capital Markets analyst John Vinh carries a Street-high $400 price target, implying roughly 64% upside, and of 44 analysts covering the stock, 8 rate it Strong Buy, 31 rate it Buy, 5 rate it Hold, and none rate it Sell. CEO Matt Murphy raised fiscal 2027 revenue guidance to approximately $12 billion and lifted fiscal 2028 revenue growth to roughly 50%, with the custom business expected to more than double, and the company holds an expanded custom-chip partnership with Google that includes a warrant allowing Google to acquire up to 7% of Marvell shares tied to revenue milestones. The average Wall Street price target sits at $289.04, an implied upside gap of roughly 18%, and the Investor Day on October 6 is the next catalyst.
Marvell Technology Group LtdKeyBanc's Street-high $400 price target and analyst ratings frame the stock as undervalued despite a 20% three-month slide, even as revenue grew 37%.
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