Marvell Boosts Guidance at Investor Day, Shares Jump
MRVL has more than doubled off its 52-week low of $70.685.
Summary
Marvell raised its fiscal 2028 revenue forecast to $20B, up from $18B prior, and guided fiscal 2031 revenue to $70B-$90B during its investor day, sending shares higher on strong AI data center demand, with analysts raising price targets. The company had already lifted its fiscal 2027 outlook to ~$12B in late August, so this is a further upward revision. Marvell targets $30 or more in earnings per share by 2031, with success in its Custom business the primary variable driving the FY31 revenue range, which includes only a portion of the Google deal. Custom outlook is supported by design-win roadmaps with Google, AWS, Microsoft, and Meta, with no individual socket expected to contribute more than 10% of revenue. The outlook assumes no contribution from AI lab engagements or scale-in opportunities, which involve bringing optical I/O directly inside the package for sub-10cm chip-to-chip and chip-to-memory interconnects. Marvell expects customer revenue in fiscal 2029 to be up 200% or more. The move follows strong Q2 results with data center revenue up 46% and the Google custom chip agreement.
Updated with a Seeking Alpha report · What changed
Updates
· Seeking Alpha — Marvell guided fiscal 2028 revenue to $20B, up from $18B prior, and fiscal 2031 revenue to $70B-$90B; analysts raised price targets.
- FY31 EPS Target — Company targets $30 or more in earnings per share by 2031.
- FY31 Revenue Drivers — Success in Custom business is the primary variable driving FY31 revenue range of $70B-$90B, which includes only a portion of the Google deal.
- Custom Design Wins — Custom outlook supported by design-win roadmaps with Google, AWS, Microsoft, Meta; no individual socket expected to contribute more than 10% of revenue.
- Excluded Opportunities — Outlook assumes no contribution from AI lab engagements or scale-in opportunities, which involve bringing optical I/O directly inside the package for sub-10cm chip-to-chip and chip-to-memory interconnects.
- Fiscal 2029 Customer Revenue — Expects customer revenue in fiscal 2029 to be up 200% or more.
All 8 details
- Company targets $30 or more in earnings per share by 2031.
- Success in Custom business is the primary variable driving FY31 revenue range of $70B-$90B.
- FY31 revenue range includes only a portion of the Google deal.
- Custom outlook supported by design-win roadmaps with Google, AWS, Microsoft, Meta.
- No individual socket expected to contribute more than 10% of revenue.
- Outlook assumes no contribution from AI lab engagements or scale-in opportunities.
- Expects customer revenue in fiscal 2029 to be up 200% or more.
- Scale-in opportunities involve bringing optical I/O directly inside the package for sub-10cm chip-to-chip and chip-to-memory interconnects.
At the time of this announcement, MRVL was trading at $295.22 on NASDAQ in the Technology sector, with a market capitalization of approximately $260.9B. The 52-week trading range was $70.69 to $329.88. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Seeking Alpha.