On August 25, Marvell Technology rose 3.06% overnight, trading at $236.27/share, with turnover of $26.87 million, as the stock rebounded from consecutive sessions of profit-taking following its Google partnership rally.

On the news front, Wells Fargo significantly raised its price target on Marvell from $240 to $310, while Morgan Stanley lifted its target from $195 to $224. These upgrades follow earlier target price increases from UBS (to $310), Oppenheimer (to $300), and Citi (to $275), bringing the analyst consensus mean target to $277.37 — well above the current trading level. The wave of bullish calls reflects institutional confidence in the company's expanding AI data center and custom ASIC business lines, particularly following its landmark supply agreement with Google for TPU-related custom chips.

The company is scheduled to report fiscal Q2 results on August 27 after market close. Consensus estimates project quarterly revenue of approximately $2.707 billion, representing 34.74% year-over-year growth. RBC Capital Markets expects a slight beat and a 2-4% guidance raise for Q3, driven primarily by the Optical segment. Funds appear to be positioning ahead of the report after several days of pullback.

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