Chipmaker Marvell (MRVL) will report its third-quarter 2025 results on December 2, and the options market is expecting a volatile reaction. Based on options pricing, traders are expecting an 11.62% move in either direction, following the results. This is lower than MRVL’s average post-earnings move (in absolute terms) of 15.9% over the past four quarters.
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MRVL stock has dropped about 19% year-to-date, hurt by uncertainty around U.S.–China trade rules and increasing competition in the AI chip space. This quarter, investors will focus on AI revenue growth, data center demand, and updated guidance for the rest of the year.
What Is Wall Street Expecting from Marvell’s Q3 Earnings?
Wall Street expects Marvell to report earnings per share (EPS) of $0.74 for Q3 FY26, reflecting 72% year-over-year growth. Furthermore, analysts estimate a 36% jump in revenue to $2.07 billion. Notably, Marvell has missed Wall Street’s expectations in two of the past nine quarters.
Meanwhile, analysts remain cautiously optimistic ahead of the third-quarter report, with many pointing to steady AI-driven growth as a key long-term driver. One such analyst is Timothy Arcuri of UBS, who kept a Buy rating on Marvell stock and raised the price target to $110 from $105. The 5-star analyst said he is more confident in Marvell’s optics business, which is closely tied to AI data center demand.
He now expects Q4 revenue guidance to come in around $2.2 billion, supported by strong AI optics demand and early traction in custom chips for Microsoft (MSFT). UBS also raised its longer-term forecasts and now expects 2027 EPS of $4.43, up from $3.85.
Is MRVL a Buy, Hold, or Sell?
On TipRanks, MRVL stock has a Moderate Buy consensus rating based on 23 Buys and nine Hold ratings. The average Marvell Technology price target of $99.33 implies 11.11% upside potential from current levels.
