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Marvell Technology Inc - Stock Quote MRVL

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Morningstar's Marvell Technology Inc Stock Analysis

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Marvell’s Momentum Continues in Q4, and We Expect More of the Same in Fiscal 2023; $62 FVE

Analyst Note

| William Kerwin |

We’re maintaining our $62 fair value estimate for no-moat Marvell shares after the company reported strong fiscal fourth-quarter results. We think Marvell is exhibiting continued momentum for its comprehensive networking silicon portfolio, and the results and fiscal first quarter guidance aligned with our long-term thesis. Marvell’s top line is surging with rapid growth out of the cloud, 5G, and automotive ethernet markets, which is padded by strong near-term growth for its legacy markets like enterprise networking. We think Marvell’s myriad technologies are firing on all cylinders, and showing the strength of its comprehensive portfolio as the firm continues to disrupt the networking chip market. We currently view shares as fairly valued.

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Marvell Technology Inc's Company Profile

Business Description

Marvell Technology is a leading fabless chipmaker focused on networking and storage applications. Marvell serves the data center, carrier, enterprise, automotive, and consumer end markets with processors, optical interconnections, application-specific integrated circuits (ASICs), and merchant silicon for Ethernet applications. The firm is an active acquirer, with five large acquisitions since 2017 helping it pivot out of legacy consumer applications to focus on the cloud and 5G markets.

1000 N. West Street, Suite 1200
Wilmington, DE, 19801
T +1 302 295-4840
Sector Technology
Industry Semiconductors
Most Recent Earnings Jan 31, 2022
Fiscal Year End Jan 29, 2023
Stock Type Cyclical
Employees 6,729

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