On August 25, Marvell Technology rose 3.08% in pre-market trading, trading at $236.36/share, with turnover of $26.46 million. The rebound follows a wave of analyst target price upgrades and positioning ahead of the August 27 post-market earnings release.

On the news front, Wells Fargo raised its target price on Marvell from $240 to $310, while Morgan Stanley lifted its target from $195 to $224. Earlier, UBS raised to $310, Oppenheimer to $300, and Citi to $275, bringing the consensus mean target to $277.37 — significantly above the current price. RBC Capital Markets expects the company to deliver a slight fiscal Q2 beat and raise Q3 guidance by 2-4%, driven primarily by its Optical business and solid Custom XPU trends. The stock had previously pulled back over multiple sessions following a 14%-plus rally triggered by a landmark custom chip partnership with Google, creating profit-taking pressure. Funds now appear to be re-entering ahead of earnings after the correction.

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