Why Is Marvell Stock Surging on Tuesday?

Marvell Technology Inc. shares rose sharply on Tuesday, steadily recovering from the sell-off following its recent earnings release.

Marvell's stock has surged 248% over the past 12 months, leaving it vulnerable to profit-taking when broader market futures signaled a defensive rotation in growth sectors.

The Nasdaq rose 0.22%, while the S&P 500 fell 0.32%, with the technology sector leading gains at 0.6%, despite overall market breadth tilting negative.

Earnings Beat Expectations

The sell-off followed the financial report released on August 27. Marvell reported second-quarter revenue up 37% year-over-year to $2.74 billion, beating the $2.71 billion estimate.

Adjusted earnings per share came in at 94 cents, above the expected 92 cents, while operating cash flow reached $605.5 million. Data center revenue jumped 46% in the quarter, driven by sustained product demand.

For the third quarter, Marvell guided revenue to $3.15 billion, plus or minus 5%, above the $3.03 billion estimate. The company forecast adjusted EPS of $1.10, plus or minus 5 cents, above the $1.07 consensus estimate.

Wall Street Analyst Rating Adjustments

On August 28, Craig-Hallum maintained a Buy rating and raised its price target to $300. B. Riley Securities maintained a Buy rating and lowered its price target to $315.

TD Cowen maintained a Hold rating and raised its price target to $245. Oppenheimer maintained an Outperform rating and raised its price target to $325. Morgan Stanley maintained an Equal-weight rating and raised its price target to $246.

Technical Analysis

MRVL maintains a clear uptrend structure, trading above its 20-day, 50-day, and 100-day moving averages, and well above its 200-day moving average. This bullish moving average alignment, combined with the 20-day MA above the 50-day MA, keeps the medium-term trend pointed upward.

Momentum is best observed through the Relative Strength Index, currently at 53.06—a neutral level, but consistent with a stock consolidating after a sharp rally rather than breaking down.

Long-term trend signals remain constructive: the golden cross formed in October 2025 still supports the view that pullbacks are bought within the primary uptrend.

MRVL price action: As of Tuesday's writing, Marvell Technology shares were up 2.80% at $229.80.