Marvell Technology (MRVL) is scheduled to announce its results for the first quarter of Fiscal 2027 on May 27. MRVL stock has rallied 108% year-to-date, driven by strong demand for its custom AI chips and optical connectivity solutions. The company’s deal with Nvidia (NVDA), under which the chip giant committed a $2 billion investment, also boosted investor sentiment. Ahead of Q1 FY27 earnings, several top analysts have raised their price targets for MRVL stock, reflecting confidence in its growth potential.
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Forget margin or options. Here's how the pros trade NVDAMeanwhile, Wall Street expects Marvell to report earnings per share (EPS) of $0.79 for Q1 FY27, implying 27.4% year-over-year growth. Revenue is estimated to rise by about 27% to $2.40 billion.
Analysts Are Optimistic on Marvell’s Growth Potential
Heading into Q1 FY27 results, RBC Capital analyst Srini Pajjuri reiterated a Buy rating on Marvell stock and increased his price target to $200 from $170. The 5-star analyst expects the momentum in MRVL’s optical business to continue through 2026. He views Nvidia’s recent investment as validation of Marvell’s dominance in the optical connectivity space. Pajjuri noted that custom XPU trends also appear strong, although near-term upside could be constrained by tight wafer supply.
Likewise, B. Riley analyst Craig Ellis reaffirmed a Buy rating on MRVL stock and raised his price target to $205 from $156. The 5-star analyst noted faster-than-anticipated acceleration in AI investment, driven by growing demand from hyperscalers and neo-cloud. This is boosting 2026-2028 capex estimates. Ellis added that new workload trends and major model providers are increasing chip intensity and tightening supply-demand dynamics. This supports strong semiconductor EPS revisions and high sector valuations despite recent volatility and comparisons to past technology cycles.
Meanwhile, Bank of America analyst Vivek Arya reiterated a Buy rating on Marvell stock and raised his price target to $200 from $125. Arya called MRVL a top pick alongside Nvidia, Broadcom (AVGO), Micron Technology (MU), and Advanced Micro Devices (AMD). The analyst’s optimism about these stocks is backed by stronger AI infrastructure capex expectations, which drove his calendar year 2027 AI data center systems total addressable market (TAM) outlook to about $1.7 trillion, up from the prior estimate of about $1.4 trillion.
For Marvell, Arya’s bullish stance is based on continued 800G/1.6T optics ramps and strength in custom silicon demand. In this regard, the analyst noted management’s conservative outlook for the Microsoft program ramp in 2027, which projects only about $600 million in contribution compared to roughly $2 billion in supply.
Is MRVL Stock a Good Buy?
Overall, Wall Street has a Strong Buy consensus rating on Marvell Technology stock based on 22 Buys and four Holds. The average MRVL stock price target of $146.05 indicates 17.4% downside risk from current levels.
