Marvell Technology Stock Hits All-Time Highs With a $16.5 Billion 2028 Revenue Target Behind It
Marvell Technology Stock Hits All-Time Highs With a $16.5 Billion 2028 Revenue Target Behind It
Publish Date: 2026-06-02 06:33:00
Source Domain: www.tikr.com
Key Stats for Marvell Technologies Stock
- 52-Week Range: $61 to $225
- Current Price: $219
- Street Mean Target: $223
- Street High Target: $300
- Analyst Consensus: 31 Buys, 8 Outperforms, 5 Holds, 1 Underperform, 1 Sell
- TIKR Model Target (Jan. 2031): $490
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Marvell Technology Stock Raised Its FY28 Revenue Forecast by $1.5 Billion in a Single Quarter
Marvell Technology (MRVL) posted record first-quarter FY2027 revenue of $2.42 billion following its May 27 earnings call, beating analyst estimates of $2.40 billion and growing 28% year over year.
CEO Matt Murphy guided Q2 revenue to approximately $2.70 billion, plus or minus 5%, ahead of the $2.60 billion analyst consensus at the time.
The company now expects FY2027 revenue to grow approximately 40% year over year to nearly $11.5 billion, up from earlier guidance of around 30% growth.
FY2028 guidance moved to approximately $16.5 billion, a $1.5 billion increase from the outlook provided just one quarter earlier.
Data center revenue reached $1.83 billion in Q1, representing 76% of total company revenue and growing 27% year over year.
Murphy even cited “exceptional AI-related bookings” as the primary driver, with custom silicon, optical interconnect, and Ethernet switching all contributing to the beat.
Marvell Technology stock has effectively become a proxy for the hyperscaler capital spending cycle, with the company holding active custom silicon engagements with all five major U.S. hyperscalers.
The interconnect business, which encompasses high-speed optical products for AI data center networking, is now expected to grow more than 70% in FY2027, up from a prior expectation of 50%.
Murphy stated on the Q1 2027 earnings call: “We have custom engagements across the board at all the…
