Marvell Technology, Inc. MRVL is scheduled to report first-quarter fiscal 2026 results after market close on May 29, 2025.

Marvell Technology anticipates revenues of $1.875 billion (+/- 5%) for first-quarter fiscal 2026. The Zacks Consensus Estimate for MRVL’s fiscal first-quarter revenues is pegged at $1.88 billion, indicating year-over-year growth of 61.6%.

For the fiscal first quarter, the company expects non-GAAP earnings of 61 cents per share (+/- 5 cents per share). The Zacks Consensus Estimate for MRVL’s fiscal first-quarter earnings is pegged at 61 cents per share, reflecting a 154.2% increase year over year. The consensus mark for earnings has remained unchanged over the past 60 days. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)

MRVL to Post Q1 Earnings: Time to Buy, Sell or Hold the Stock?

In the trailing four quarters, Marvell Technology’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 4.25%.

Marvell Technology, Inc. Price and EPS Surprise

Marvell Technology, Inc. price-eps-surprise | Marvell Technology, Inc. Quote

Earnings Whispers for MRVL Stock

Our proven model does not conclusively predict an earnings beat for Marvell Technology this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here.

Though Marvell Technology currently carries a Zacks Rank #3, it has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter. You can see the complete list of today’s Zacks #1 Rank stocks here .

Factors Likely to Influence Marvell’s Q1 Results

Marvell Technology’s overall first-quarter revenues are likely to have benefited from improved performance across the majority of its end markets. The company’s data center division continues to be the primary engine of growth, benefiting from the rising demand for electro-optics products, custom artificial intelligence (AI) silicon and next-generation switches. Our model estimates suggest that first-quarter data center revenues will reach $1.395 billion, implying a 2.1% sequential growth.

The growing adoption of 800-gig PAM products and 400ZR data center interconnect solutions is fueling top-line expansion. Additionally, advancements in Compute Express Link technology and increased AI-related investments position Marvell as a key player in the high-performance computing ecosystem.

Improved inventory corrections and recovering demand are helping Marvell’s Networking and Carrier segments rebound. Our projections indicate that Enterprise Networking and Carrier revenues will each rise 8.1% and 9% sequentially, reaching $114.4 million and $186.9 million, respectively.

Marvell Technology’s carrier segment is benefiting from new design wins in cloud-driven networking solutions. As telecom providers upgrade their infrastructure for AI-driven applications, MRVL’s networking division should continue to see steady improvements.

The Automotive and Industrial divisions have been a consistent revenue contributor for Marvell Technology, thanks to the increasing semiconductor content in vehicles and industrial automation growth. For the first quarter, our model estimates for Automotive/Industrial revenues are pegged at $88.9 million, indicating a 3.7% sequential improvement. With automakers ramping up production of connected and electric vehicles, Marvell Technology's automotive ethernet solutions and advanced driver-assistance system technologies should continue to see steady adoption.

Despite the strength of Marvell Technology’s data center, networking and AI segments, its consumer end market remains a weak spot. Seasonality in gaming and broader macroeconomic uncertainty might have resulted in weak revenues in this segment.

MRVL Stock Price Performance & Valuation

In the past year, MRVL shares have plunged 20.9%, underperforming the Zacks Electronics – Semiconductors industry’s growth of 14.1%.

Now, let’s look at the value Marvell Technology offers investors at the current levels. MRVL stock trades at a discounted price with a forward 12-month price-to-sales (P/S) multiple of 5.99X compared with the industry’s 7.54X.

Investment Consideration for MRVL

Marvell Technology’s custom silicon business is a game-changer, particularly in the booming data center market. Cloud service providers rely on their highly specialized chips to optimize AI computing efficiency, networking speed and energy consumption.

Furthermore, Marvell Technology has also formed strong collaborations with industry leaders, including NVIDIA NVDA, Juniper Networks JNPR and Coherent Corp. COHR, to design high-speed networking technology for AI workloads.

Marvell Technology and NVIDIA have collaborated to integrate MRVL’s optical interconnect solutions with NVIDIA’s AI and computing technology. Using the NVIDIA HGX H100 eight-GPU platform, BlueField-3 DPUs, Spectrum-X networking, and Marvell’s interconnects, they have developed NVIDIA Israel-1 to power AI applications with high efficiency.

Marvell Technology has collaborated with Juniper Networks and Coherent Corp. to develop 800ZR networking solutions. Together, these companies combined Juniper’s PTX10002-36QDD Packet Transport Router, Coherent’s 800ZR transceiver, and MRVL’s Orion 800G coherent DSP to develop a networking solution to support AI, cloud, and 5G.

However, the U.S. government’s recent steps toward China have also been a matter of concern for Marvell Technology as the company generates significant revenues (about 43% of its fiscal 2025 total revenues) from the Chinese market.

As Marvell Technology owns research and development facilities in China and outsources to China, the growing geopolitical tension, fear of fresh sanctions and persistent tariff threats have added to investors’ skepticism. However, given the MRVL’s strong fundamentals, investors’ concerns seem overblown. The recent U.S.-China agreement to temporarily reduce tariffs on each other's goods can provide relief to Marvell Technology's business for the near term.

Conclusion: Buy MRVL Before Q1 Results

Marvell Technology’s upcoming quarterly results are likely to demonstrate the beginning of a multi-year growth story fueled by AI innovation. However, the company also suffers from the U.S.-China trade war as it highly depends on both nations. all these factors, we suggest that investors should retain MRVL stock at present.

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