MRVL Stock Slides Overnight After Record Close: Retail Traders Keep The Faith

• MRVL shares dropped overnight, signaling some profit-taking.
• Other photonics stocks, such as LITE, COHR, and GLW, also pulled back.
• Stocktwits sentiment for MRVL remained ‘extremely bullish.’

Marvell Technology shares fell 3% in overnight trading after closing at a record high on Wednesday, in an early sign of a pullback and profit-taking following a sharp rally sparked by Nvidia CEO Jensen Huang’s endorsement of the company.

MRVL stock has gained over 45% over the last two days. On Tuesday, Huang said Marvell could be the next “trillion-dollar company” at the Computex 2026 conference and highlighted the importance of photonics technology for efficient data transfers in data centers.

The boost in other optics stocks also waned. Lumentum shares declined 9% on Wednesday and another 3% overnight. Coherent’s stock declined 2.2% and then 3.6% in the overnight session, while Corning’s shares declined 3.6% overnight.

What Wall Street Analysts Think Of MRVL

Marvell’s rally, in particular, awed analysts and traders, triggering an intense debate about the durability of the gains. 

On Tuesday, Stifel raised its price target on the stock to $321 from $230, citing that Computex served as a platform to capture increased market acceptance of Marvell's positioning within the broader data center and AI ecosystem. The brokerage’s target implies a 7% upside from the stock’s last closing price.

Morningstar raised its price target on MRVL to $235 from $130. “The market is pricing Marvell as an optics winner, and we agree,” the research firm said in an investor note on Tuesday, adding that it viewed the stock as “moderately undervalued at our new valuation.”

Morningstar said it models “Marvell to smash its $18 billion data center sales target in calendar 2028, while reaching its $11 billion custom compute target. This upside is entirely from optics, with classic Marvell's DSP chips for scale-out AI networks and its co-packaged optics with Celestial AI in tow.”

Currently, 38 of 44 analysts rate the stock ‘Buy’ or higher, and six rate it ‘Hold,’ per Koyfin. Their average price target of $233.14 implies a 23% downside for the stock.

MRVL Stock: Retail Traders Stay Bullish

On Stocktwits, debate grew over the rally's durability. The fact that a single comment led the company to add nearly $72 billion to its market capitalization created some unease; traders broadly believe MRVL would rip higher still.

The retail sentiment for MRVL remained ‘extremely bullish,’ unchanged since last Thursday. “$MRVL easiest dip buy in history .. is it overbought? Yes. Does it matter? No. This is a repricing… stock will be $400+ in no time,” said a trader.

“$MRVL So this stock has a healthy green day on a tough day in the market, then it's down by less than 2% 20 minutes into AH on light trading, and they say it's dead. This is laughable,” another trader wrote. “I agree it's overbought, but dayum, this is a $250 billion company.”

Year-to-date, Marvell shares have soared 255%. The company had a market capitalization of $263.88 billion on Thursday.

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