Broadcom Isn't the Only AI Chip Stock That Could Move Big on Earnings This Week

Broadcom (AVGO) is set to report its fiscal first-quarter earnings after the market closes Thursday, March 6, but that’s not the only major semiconductor company slated to release quarterly results this week. Marvell Technology (MRVL) will announce its fourth-quarter earnings after the closing bell this Wednesday, March 5.

What’s the Forecast for Marvell Earnings?

Ahead of Marvell’s report, analysts are projecting Q4 revenues of $1.80 billion, marking a substantial 26% year-over-year growth. The company's Q3 performance was particularly impressive, exceeding revenue expectations by 3.8% with $1.52 billion in revenue, while demonstrating notable improvements in inventory management.

Data center and artificial intelligence (AI) initiatives continue to be the primary growth drivers for Marvell, with data center revenue experiencing a remarkable 98% year-over-year surge in the third quarter. The company's strategic positioning in high-growth sectors, including AI infrastructure, custom silicon programs, and advanced interconnect products for cloud customers, has strengthened its market presence and future growth potential.

As for options traders, they’re pricing in a post-earnings price swing of 11.03% in either direction for MRVL stock. That’s roughly in line with Marvell’s year-ago earnings decline of 11.36%.

How is MRVL Stock Performing?

Despite an impressive 83% rally in 2024, MRVL shares have shown recent vulnerability, and are now down by 23% year-to-date. On a longer-term basis, MRVL is up nearly 47% since the start of 2024, outperforming a return of 30.9% for the broader VanEck Semiconductor ETF (SMH).

While the company's revenue is projected to double over the next couple years, driven by AI and data center growth, current valuations suggest the stock may be trading approximately 33% above its intrinsic value of $68.89. 

The stock’s recent underperformance hasn't dampened analyst optimism, with 93% of those in coverage maintaining “Buy” or better ratings. Just yesterday, Bank of America’s Vivek Arya backed MRVL as a top AI chip stock for 2025, and predicted the company would surprise to the upside with this week’s results.

“We expect MRVL to grow with Amazon even in CY26 on continued participation in custom chip program (successor to [Trainium]-2 called Ultra/2.5, or some design work in [Trainium]-3),” wrote Arya in a note to clients.

Notably, Marvell now trades below even its Street-low price target of $95. The average price target from analysts is $131.78, which implies expected upside of 54.5% from current levels. For context, MRVL’s all-time high is $127.48.

What’s the Bottom Line on MRVL Stock? 

The combination of robust hyperscaler capex spending and Marvell's expanding presence in AI infrastructure positions the company for continued growth through FY 2027, though investors should remain mindful of MRVL’s potentially stretched valuation metrics.