Why Marvell Technology (MRVL) Stock Jumped 12% This Week

Marvell Technology Inc (NASDAQ:MRVL) shares are trading higher by 12% this week, trading just under $100 following a strong third-quarter earnings report and a major strategic expansion. Here’s what investors need to know.

• Marvell Tech stock is building positive momentum. Why is MRVL stock advancing?

What To Know: The semiconductor company reported adjusted earnings of $0.76 per share, beating analyst estimates of $0.73. Revenue came in at $2.08 billion, driven by record performance in the data center segment. Adding to the bullish momentum, Marvell announced the $3.25 billion acquisition of Celestial AI to bolster its optical interconnect technology.

Wall Street responded with a wave of optimism. Analysts from firms including JPMorgan, Rosenblatt, and Needham raised their price targets, ranging from $110 to $156, citing Marvell’s secured pipeline with Amazon Web Services (AWS). Analysts project the company's custom silicon revenue could double by fiscal 2028, supported by the new acquisition and the ramp-up of next-generation chips.

However, technical analysis suggests traders should exercise caution in the immediate term. Despite the strong fundamentals, the stock is currently testing a critical resistance level at $100. This psychological round number previously acted as a ceiling where sellers emerged due to buyers’ remorse.

Benzinga Edge Rankings: Benzinga Edge rankings further validate the stock’s strength with a robust Growth score of 75.92 and a Momentum score of 72.58, supported by positive price trends across short, medium and long-term horizons.

MRVL Price Action: Marvell shares were roughly flat at $98.90 at the time of publication on Friday, according to Benzinga Pro data.

The 52-week range of $47.08 to $127.48 further illustrates the stock’s potential for growth, with the current price sitting closer to the upper end of this range.

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How To Buy MRVL Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Marvell’s case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

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