Marvell Technology Inc. (NASDAQ:MRVL) stock jumped more than 7% on Monday. The chipmaker outpaced a broader rally in technology stocks as investors positioned for its upcoming earnings report.
The Nasdaq gained 0.41%, while the S&P 500 slipped 0.09%. Technology rose 0.85%, making it the best-performing S&P 500 sector.
Marvell Earnings Take Center Stage
Marvell is scheduled to report second-quarter fiscal 2027 results on August 27. Wall Street expects earnings of 87 cents per share, up from 67 cents a year earlier. Revenue is projected at $2.71 billion, compared with $2.01 billion last year.
Marvell carries a Buy consensus rating and an average price forecast of $269.09.
UBS maintained its Buy rating Monday but lowered its price forecast to $300 on August 17. KeyBanc Capital Markets raised its forecast to $400 and maintained an Overweight rating on July 14. RBC Capital Markets maintained an Outperform rating and a $360 forecast on July 7.
Technical Picture Remains Strong
Marvell shares have gained more than 211% over the past 12 months. The stock remains about 68% above its 200-day simple moving average of $142.20.
Momentum is also improving. The MACD remains above its signal line with a positive histogram, signaling stronger buying pressure.
However, the 20-day SMA of $204.72 remains below the 50-day SMA of $236.55. That setup points to some lingering short-term weakness despite the longer-term uptrend.
The 50-day SMA could provide support near $236.55. Meanwhile, the June 52-week high of $329.88 represents a key resistance level.
Benzinga Edge Rankings
Marvell scores strongly on Benzinga Edge for Growth and Momentum, with ratings of 99.79 and 98.41, respectively. However, its Value score stands at just 1.54, highlighting the stock’s premium valuation.
MRVL Price Action
MRVL Price Action: Marvell Technology shares were up 7.39% at $238.42 at the time of publication Monday, according to Benzinga Pro data.
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