On August 27, Marvell Technology rose 3.75% in pre-market trading, trading at $256.55/share, with turnover of $13.77 million.

On the news front, Susquehanna raised its target price on Marvell Technology from $230 to $265 ahead of the company's fiscal Q2 earnings report scheduled for after market close today. The firm cited optimism around AI custom chip business growth, noting that AWS has increased its capital expenditure guidance for Marvell's custom XPU business from $2.0 billion to $2.2 billion, partly driven by rising memory costs. Marvell maintains its fiscal 2029 custom business target of $10 billion, implying significant acceleration from the roughly $4 billion projected for fiscal 2028.

Multiple Wall Street institutions have also raised target prices in recent sessions, including Wells Fargo to $310, HSBC to $325, Rosenblatt to $300, and UBS to $310, pushing the consensus mean target above $277, well above the current share price. RBC expects the company to deliver a slight Q2 beat with consensus revenue of approximately $2.707 billion, representing 34.74% year-over-year growth.

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