On August 25, Marvell Technology rose 4.59% in regular trading, trading at $243.92/share, with turnover of $631 million.

On the news front, multiple Wall Street firms issued significant target price upgrades: Wells Fargo raised its target from $240 to $310, HSBC from $300 to $325, Rosenblatt from $240 to $300, and Morgan Stanley from $195 to $224. The consensus mean target price now stands at $277.37, well above the current stock price. Earlier, UBS, Oppenheimer, and Citi also raised their targets, reflecting broad institutional optimism.

The upgrades come ahead of the company's fiscal Q2 earnings report due August 27 after market close. Consensus estimates project revenue of approximately $27.07 billion, up 34.74% year over year, with adjusted EPS of $0.92. RBC Capital Markets expects a slight beat and a 2-4% raise to Q3 guidance, driven primarily by Optical and solid Custom XPU trends. The stock had previously surged over 14% on news of a major custom AI chip partnership with Google, then pulled back on profit-taking before this rebound.

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