MRVL Stock Forecast 2023 is $59

MRVL Stock Forecast 2023 for the next 12 months is $59

MRVL Stock Forecast: Price today

  • Last 1 Month: +22.2%, Outperformer
  • Last 6 Months: -18.9%, Underperformer
  • Last 12 Months: -37.0%, Underperformer

MRVL Stock Target Price: Analysts

Average MRVL Stock Forecast for the next 12 Months$59
Raymond James$60

MRVL Stock Forecast: Q3 Results

  • Marvell Technology reported its Q3 fiscal year 2023 financial results with net revenue of $1.537 billion, growing 27% YoY.
  • The gross margin was 50.6% GAAP and 64.0% non-GAAP.
  • The diluted income per share was $0.02 GAAP and $0.57 non-GAAP.

MRVL Stock Forecast: Positive Factors

High profitability: Marvell Company has seen good revenue growth and high profitability with a 40.7% increase in y-y revenue.

Data center and Cloud solutions: The company has a major focus on cloud infrastructural solutions and the data center area and Analysts expect to see solid growth in these areas including data center optical equipment.

MRVL Stock Forecast: Negative Factors

  • Supply chain issues: Supply chain disruptions are present all over the industry. Marvell has been struggling with supply shortages which are affecting its ability to ship products.
  • Inflation: The increasing prices and the slow economy are affecting its stock price.
  • Decreasing technology spending: Analysts see a decrease in technology spending in the cloud industry due to macroeconomic issues and the slow-moving economy.

MRVL Stock Forecast Today

Overall OutlookPartially Positive
1. Market's WisdomPartially Positive
1a. Market DataNeutral
1b. Technical RecommendationBuy
2. Crowd's WisdomNeutral
2a. Social Media BuzzSteady
2b. Social Media SentimentNeutral

MRVL Stock Forecast: Conclusion

Marvell stock has performed well in the 3rd quarter and has good profitability. The data center area is expected to see solid growth but analysts expect to see slower growth due to various supply chain issues present in the industry. So, MRVL stock is expected to grow in the long term.

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Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.

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