Benchmark reiterated its buy rating and $275 price target for Marvell Technology Group (NASDAQ: MRVL) ahead of the company’s fiscal Q2 2027 earnings release on August 28 after market close.
The firm’s projections align closely with market consensus, forecasting revenue of $2.709 billion for the quarter ended July, compared with a consensus estimate of $2.714 billion. Earnings per share (EPS) is projected at $0.93, matching the consensus. For fiscal Q3 2027, Benchmark expects revenue of $3.030 billion, in line with the $3.029 billion consensus, and EPS of $1.09 versus a consensus of $1.08.
Analyst Cody Acree emphasized that Marvell’s data center segment mix, October guidance, and management commentary on its relationship with Google hold greater significance than minor deviations in the July quarter figures. Marvell’s market capitalization stands at $197 billion, with revenue growth of 34% over the trailing 12 months. InvestingPro notes the stock as overvalued relative to its fair value.
Institutional support for Marvell remains broad. UBS raised its price target to $310 while maintaining a buy rating, citing the expanded partnership with Google. Barclays highlighted a potential revenue opportunity of up to $120 billion by fiscal 2033, estimating an incremental annual revenue of $18.5 billion if all warrants tied to the Google partnership are exercised. Oppenheimer reiterated an outperform rating, noting Google’s Tensor Processing Unit (TPU) integration into Marvell’s AI platform.
BMO Capital initiated coverage with an outperform rating and a $250 price target, citing Marvell’s strength in data center infrastructure and customized ASICs. JPMorgan also reiterated an outperform rating, focusing on the long-term collaboration with Google to develop custom chips for the TPU ecosystem.
Marvell is scheduled to release its fiscal Q2 2027 results after U.S. markets close on August 28, 2026.
