FINWIRES · TerminalLIVE
FINWIRES

Marvell Technology to Slightly Beat Estimates for Fiscal Q1, Raise Guidance, RBC Says

By

Marvell Technology (MRVL) is expected to beat analyst expectations in fiscal Q1 and raise its guidance slightly, RBC Capital Markets analysts said in a Wednesday note.

The company is scheduled to report its fiscal Q1 results on May 27.

RBC said that the momentum in Marvell's Optical business is expected to sustain through the year, and that the recent Nvidia (NVDA) investment validates the company's optical connectivity leadership.

Analysts said that Marvell is expected to remain a key supplier to Amazon (AMZN), and Amazon Web Services' recent partnerships with Microsoft-backed (MSFT) OpenAI and Anthropic are material long-term positives for the company.

RBC said it expects the company's topline momentum to sustain for the next two to three years.

Analysts retained an outperform rating on the stock and increased its price target to $200 from $170.

Price: $185.90, Change: $+7.95, Percent Change: +4.47%

Related Articles

Wire

EVT's Connect Hospitality Signs Management Agreement for Queensland Hotel

EVT's (ASX:EVT) Connect Hospitality secured a management agreement for Sage James Street Brisbane, a 93-room hotel in Brisbane, Queensland, according to a Thursday statement from the company.The agreement reflects the continued momentum in Connect Hospitality's asset light growth strategy, said Mat Duff, EVT's director of Commercial and Connect Hospitality.

ASX:EVT
Wire

National Australia Bank Acquires Global Payments Platform for Undisclosed Sum

National Australia Bank (ASX:NAB) acquired Banked, a global technology platform that allows customers and merchants to make and receive payments instantly, according to a Thursday statement from the bank.Financial terms were not disclosed.The deal will integrate Banked's checkout and orchestration technology with NAB's banking infrastructure.NAB had been an investor in Banked through NAB Ventures since 2022 and a user of its technology since 2024, the filing added.The bank's shares fell around 2% in recent Thursday trade.

ASX:NAB
Wire

F&G Annuities & Life to Join the S&P SmallCap 600, Replacing Mister Car Wash

F&G Annuities & Life (FG) will join the S&P SmallCap 600, effective before the market opens Tuesday, S&P Dow Jones Indices said Wednesday in a statement.F&G Annuities will replace Mister Car Wash (MCW), which is being acquired by Leonard Green & Partners in a deal expected to close soon, according to the statement.F&G shares rose 3% in after-hours trading.S&P Dow Jones Indices is a division of S&P Global (SPGI).

$FG$MCW$SPGI