Why Is MRVL Stock Rising Today?

• Marvell Technologies is set to report its first-quarter 2027 earnings on May 27, after the closing bell.
• Morgan Stanley expects a "beat-and-raise quarter" given the strong optical backdrop, though it noted that ‘the stock has become expensive again.’
• HSBC stated that the optical interconnect strength and CXL revenue opportunity "remain undervalued and can drive upside earnings surprises.”

Shares of Marvell Technology Inc. (MRVL) rose over 4% on Tuesday ahead of its first quarter earnings scheduled for May 27, 2026, with analysts at Morgan Stanley and HSBC highlighting strength in optical interconnects and CXL revenue as potential upside drivers.

Analysts expect the company to report earnings of $0.79 per share and revenue of about $2.4 billion in the first quarter (Q1), according to Fiscal.ai. data.

MRVL’s Optical Interconnects And CXL Revenue In Focus

Multiple analysts have upgraded the company’s rating ahead of its earnings. Frank Lee, analyst at HSBC, upgraded Marvell to ‘Buy’ from ‘Hold’ and raised the firm’s price target to $300 from $85, representing an upside of more than 250% from the firm’s previous estimate.

The firm raised earnings per share estimates of FY27 and FY28 by 21% and 61%, respectively, driven by its ‘bullish’ optical interconnect revenue expectations and CXL portfolio-driven ASIC revenue. The analyst believes that the optical interconnect strength and CXL revenue opportunity ‘remains undervalued and can drive upside earnings surprises,’ according to TheFly.

Meanwhile, Morgan Stanley raised Marvell’s price target to $172 from $103 and kept an ‘Equal Weight’ rating on the stock ahead of the company’s earnings report on May 27. The firm foresees "a beat-and-raise quarter" given the very strong optical backdrop, though it cautioned that "the stock has become expensive again." 

Susquehanna also raised its price target to $230 from $100 and kept a ‘Positive’ rating. The firm updated its model ahead of the quarterly report, noting upside in data center revenue driven by strong "XPU Attach" engagements and AI interconnect DSP demand, while stating that 3-nanometer capacity constraints for DSP and XPU customers may cap future upside.

MRVL’s First-Quarter Guidance

Marvell guided Q1 revenue at $2.4 billion, with adjusted earnings of $0.79 per share for the same period. 

The company noted that its financial outlook for the first quarter of fiscal 2027 includes expected results from Celestial AI and XConn Technologies, as both acquisitions closed subsequent to the fiscal 2026 year-end.

What Retail Thinks Of MRVL

On Stocktwits, retail sentiment surrounding the stock has improved to ‘bullish’ from ‘neutral’, while message volume has increased to ‘high‘ from ‘normal’ over the past 24 hours.

Shares of Marvell Technology have climbed over 130% so far this year.

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