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Dec 3, 2025 12:30 PM

Marvell Technology Analysts Raise Their Forecasts Following Upbeat Q3 Earnings

Marvell Technology Inc. (NASDAQ:MRVL) posted better-than-expected earnings for the third quarter and also announced the acquisition of Celestial AI on Tuesday.

Marvell reported quarterly adjusted earnings of 76 cents per share, which beat the analyst estimate of 73 cents, according to Benzinga Pro. Quarterly revenue came in at $2.08 billion, which beat the Street estimate of $2.07 billion and was up from revenue of $1.52 billion from the same period last year.

Marvell also announced the acquisition of Celestial AI.

"Marvell delivered record third-quarter revenue of $2.075 billion, exceeding the midpoint of guidance, driven by strong demand for our data center products," said Matt Murphy, Marvell's Chairman and CEO.

Marvell shares gained 3.7% to trade at $96.29 on Wednesday.

These analysts made changes to their price targets on Marvell following earnings announcement.

Needham analyst N. Quinn Bolton maintained Marvell Tech with a ...