By Tae Kim
Marvell Technology will report its fiscal fourth-quarter earnings after the market close. Investors are hoping the company will give a positive update about the outlook for its sales of artificial-intelligence chips for the rest of this year.
The Wall Street consensus expectations for Marvell are for the company to report January quarter revenue of $1.8 billion with adjusted earnings per share of 59 cents. For the current quarter, the consensus calls among analysts are for revenue of $1.87 billion and EPS of 60 cents
Marvell sells a portfolio of chips and hardware products for the data center, 5G infrastructure, networking, and storage markets. It also helps large technology companies design their own AI semiconductors, called ASICS, or application specific integrated circuits.
Last week, Raymond James analyst Srini Pajjuri reaffirmed his Outperform rating on Marvell stock.
"We expect the custom AI accelerator market to grow to $50B+ by 2028, and believe that MRVL is well-positioned for significant share given its strong IP, system-level expertise, and execution track record," he wrote.
Marvell stock has gained 10% over the past 12 months.
Write to Tae Kim at tae.kim@barrons.com
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March 05, 2025 10:48 ET (15:48 GMT)
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