Marvell Technology’s Q4 Had ‘More Bad Than Good’: 7 Analysts Explore Earnings As Shares Slip

Shares of Marvell Technology Inc (NASDAQ: MRVL) declined by 9.35% to $77.13 at the time of publication on Friday, after the company reported its fourth-quarter results and issued disappointing guidance.

The results came amid an exciting earnings season. Here are some key analyst takeaways from the release.

Stifel analyst Tore Svanberg reaffirmed a Buy rating, while raising the price target from $72 to $86.
Cantor Fitzgerald analyst C.J. Muse reiterated an Overweight rating, while raising the price target from $80 to $85.
KeyBanc Capital Markets analyst John Vinh reaffirmed an Overweight rating, while lifting the price target from $70 to $95.
Goldman Sachs analyst Toshiya Hari maintained a Buy rating, while bumping the price target from $70 to $84.
Needham analyst Quinn Bolton reaffirmed a Buy rating, while raising the price target from $65 to $95.
JPMorgan analyst Harlan Sur maintained an Overweight rating, while lifting the price target from $70 to $90.
Oppenheimer analyst Rick Schafer reiterated an Outperform rating and price target of $80.

Check out other analyst stock ratings.

Stifel: Marvell Technology reported in-line quarterly results, on continued data center growth, Svanberg said in a note. He added, however, that the guidance was “materially lower” on “sharply – and persistently – softer non-DC revenue.”

“Nevertheless, we believe AI-related revenue could be tracking to ~$1.4bn …

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