Marvell Technology (NASDAQ: MRVL) is falling after its latest earnings report, but several Wall Street analysts don’t see the decline as a reason to stay away from the stock.
MRVL reported $2.74 billion in revenue for its second quarter, slightly ahead of the $2.72 billion analysts expected, according to FactSet. The company also reported adjusted earnings of 94 cents per share, beating the 93 cents expected by Wall Street. Even though Marvell beat expectations, investors were not impressed.
Wall Street Firms Remain Bullish
Bank of America (NYSE: BAC), UBS (NYSE: UBS), Barclays (NYSE: BCS), Wells Fargo (NYSE: WFC), and Citi (NYSE: C) all reiterated bullish arguments, noting price targets of:
- Bank of America: $365
- UBS: $310
- Wells Fargo: $310
- Barclays: $275
- Citi: $275
The bullish calls are notable because MRVL has already had a huge year. The shares have climbed about 184% so far in 2026, meaning investors had very high expectations heading into the earnings report.
MRVL Delivered Modest Earnings Beat
Bank of America analyst Vivek Arya believes investors may be focusing too much on that short-term disappointment. “We ignore this expectation mismatch,” Arya wrote, as quoted by CNBC.
Arya remains confident in Marvell’s longer-term growth prospects. He described Marvell as a “unique growth franchise” and expects the company’s revenue growth to accelerate toward the mid-50% range year over year, compared with the mid-40% range currently.
He believes that growth can come from Marvell’s relationships with major cloud companies and its technology across several important areas, including computing, networking, optics, security and storage.
Analyst Day Could Be the Next Big Catalyst
With earnings now behind it, investors could turn their attention to Marvell’s analyst day in early October. The event could give investors more information about the company’s long-term growth plans and its opportunities in artificial intelligence, cloud computing and other areas of the semiconductor market.
Morgan Stanley analyst Joseph Moore, who has an Equal Weight rating on MRVL, also sees potential for the stock to rebound. Moore said he “would be tactically long for the investor day if the stock sells off,” as also quoted by CNBC.
Should Investors Buy Marvell Stock After Earnings?
Marvell’s latest earnings report shows just how high expectations have become for the company. The company beat Wall Street’s revenue and earnings estimates, yet the stock still dropped sharply. That’s a sign that investors are looking for much more than small earnings beats after Marvell’s huge rally this year.
But the long-term story remains attractive to many analysts. Marvell is positioned in several areas of the semiconductor industry that are benefiting from growing demand for artificial intelligence and cloud infrastructure. The company’s relationships with major cloud customers could also help drive future growth. The upcoming analyst day could be especially important. If MRVL provides a strong outlook and gives investors more confidence in its long-term growth plans, the recent selloff could prove temporary.
For now, Wall Street remains largely positive. Bank of America sees as much as 51% upside to its $365 price target, while UBS, Wells Fargo, Barclays and Citi also remain bullish.
