Marvell Technology (MRVL) is set to release its Q2 earnings report on Thursday, August 27, after the market closes. Analysts expect the semiconductor company to report revenue of $2.71 billion, marking a 35% increase from $2.01 billion in the same quarter last year, with adjusted earnings per share (EPS) projected at $0.93, up nearly 39% year-over-year.
This comes as Marvell has seen its stock surge 180% this year, despite currently trading over 25% below its all-time high of $329. The company’s growth is largely attributed to its expanding role in the AI infrastructure market and its relationships with major hyperscalers like Amazon, Microsoft, and Google. In the first quarter, data-center revenue reached $1.83 billion, accounting for 76% of total sales.
Looking ahead, Marvell anticipates total revenue to rise approximately 40% in FY27, reaching around $16.5 billion by FY28. However, its current valuation is a critical concern, trading at 17X forward sales and 74X forward earnings following its significant rally. Investors are closely watching for guidance on continued growth amidst increasing competition in the custom AI silicon space.
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