Marvell Technology Inc. (MRVL) Earnings: Q3 2026 Revenue Surges, EPS Misses

Marvell Technology Inc. (MRVL) — Q3 2026 highlights

Marvell reported quarterly revenue of $2.07 billion, up 36.8% year‑over‑year, and gross profit of $1.07 billion, an increase of 206.2% versus the prior year. The company generated operating profit of $357.8 million but saw a large year‑over‑year decline in operating results. Reported net income attributable to common shareholders was $1.90 billion, while diluted earnings per share came in at -$0.04, an unusual mix that warrants review of one‑time items, tax or share‑count effects in the full release.

Key financial items:

Revenue: $2.07 billion (+36.8% YoY)

Gross profit: $1.07 billion (+206.2% YoY)

Cost of sales: $1.00 billion (down 13.9% YoY)

Operating profit: $357.8 million (down 150.9% YoY)

Net income attributable to common shareholders: $1.90 billion (down 381.1% YoY)

Diluted EPS: -$0.04 (down 94.9% YoY)

Cash from operating activities: $582.3 million (+8.6% YoY)

Purchases of property, plant and equipment: -$73.5 million (down 2.0% YoY)

Cash and cash equivalents: $2.71 billion (+212.7% YoY)

Total liabilities: $7.52 billion (+18.6% YoY)

Performance versus consensus:

Revenue versus estimate: company $2.07 billion vs. consensus $2.11 billion — slightly below expectations.

EPS versus estimate: company -$0.04 vs. consensus $0.75 — a significant miss on reported diluted EPS.

Takeaways and next steps for readers:

Top-line growth and a large gross‑profit improvement were the quarter’s bright spots for Marvell Technology Inc. (MRVL).

The disconnect between reported net income and negative diluted EPS is notable; readers should check management commentary and the notes for one‑time items, tax impacts, share‑count changes or GAAP versus non‑GAAP adjustments.

Cash on the balance sheet strengthened materially to $2.71 billion, while liabilities increased to $7.52 billion, which is useful context for capital allocation and leverage analysis.

Compare the full earnings release and the company’s guidance (if provided) for clarity on operating performance and the drivers behind the variance to consensus.

Marvell Technology Inc. Insider Trading Activity

Marvell Technology Inc. insiders have traded $MRVL stock on the open market 7 times in the past 6 months. Of those trades, 4 have been purchases and 3 have been sales.

Here’s a breakdown of recent trading of $MRVL stock by insiders over the last 6 months:

MATTHEW J MURPHY (Chairman of the Board and CEO) purchased 13,600 shares for an estimated $1,048,424
CHRIS KOOPMANS (President and COO) purchased 6,800 shares for an estimated $530,604
WILLEM A MEINTJES (Chief Financial Officer) has made 1 purchase buying 3,400 shares for an estimated $265,302 and 1 sale selling 1,500 shares for an estimated $102,780.
SANDEEP BHARATHI (President, Data Center Group) purchased 3,400 shares for an estimated $265,302
MARK CASPER (EVP & Chief Legal Officer) sold 3,000 shares for an estimated $217,049
PANTEHA DIXON (Chief Accounting Officer) sold 1,283 shares for an estimated $87,885

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

Marvell Technology Inc. Hedge Fund Activity

We have seen 748 institutional investors add shares of Marvell Technology Inc. stock to their portfolio, and 729 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

T. ROWE PRICE INVESTMENT MANAGEMENT, INC. removed 17,244,465 shares (-100.0%) from their portfolio in Q2 2025, for an estimated $1,334,721,591
VANGUARD GROUP INC added 15,166,976 shares (+23.5%) to their portfolio in Q3 2025, for an estimated $1,275,087,672
JANUS HENDERSON GROUP PLC removed 12,081,985 shares (-85.0%) from their portfolio in Q3 2025, for an estimated $1,015,732,478
BROWN ADVISORY INC removed 9,127,910 shares (-43.8%) from their portfolio in Q3 2025, for an estimated $767,383,393
FMR LLC added 6,917,495 shares (+6.0%) to their portfolio in Q3 2025, for an estimated $581,553,804
AMERIPRISE FINANCIAL INC added 6,217,952 shares (+59.7%) to their portfolio in Q3 2025, for an estimated $522,743,224
ARTISAN PARTNERS LIMITED PARTNERSHIP removed 5,494,392 shares (-100.0%) from their portfolio in Q2 2025, for an estimated $425,265,940

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Marvell Technology Inc. Congressional Stock Trading

Members of Congress have traded $MRVL stock 5 times in the past 6 months. Of those trades, 2 have been purchases and 3 have been sales.

Here’s a breakdown of recent trading of $MRVL stock by members of Congress over the last 6 months:

REPRESENTATIVE VAL T. HOYLE sold up to $15,000 on 09/23.
SENATOR ANGUS S. KING JR. purchased up to $15,000 on 07/21.
REPRESENTATIVE RITCHIE TORRES has traded it 2 times. They made 1 purchase worth up to $15,000 on 06/06 and 1 sale worth up to $15,000 on 07/11.
REPRESENTATIVE JAMES COMER sold up to $15,000 on 07/03.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.

Marvell Technology Inc. Analyst Ratings

Wall Street analysts have issued reports on $MRVL in the last several months. We have seen 13 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Rosenblatt issued a "Buy" rating on 12/01/2025
Susquehanna issued a "Positive" rating on 11/25/2025
UBS issued a "Buy" rating on 11/24/2025
Oppenheimer issued a "Outperform" rating on 10/10/2025
Needham issued a "Buy" rating on 09/25/2025
Deutsche Bank issued a "Buy" rating on 09/25/2025
Wells Fargo issued a "Overweight" rating on 08/29/2025

To track analyst ratings and price targets for Marvell Technology Inc., check out Quiver Quantitative's $MRVL forecast page.

Marvell Technology Inc. Price Targets

Multiple analysts have issued price targets for $MRVL recently. We have seen 22 analysts offer price targets for $MRVL in the last 6 months, with a median target of $88.0.

Here are some recent targets:

Joseph Moore from Morgan Stanley set a target price of $86.0 on 12/01/2025
Kevin Cassidy from Rosenblatt set a target price of $95.0 on 12/01/2025
Christopher Rolland from Susquehanna set a target price of $100.0 on 11/25/2025
Frank Lee from HSBC set a target price of $85.0 on 11/24/2025
Timothy Arcuri from UBS set a target price of $110.0 on 11/24/2025
James Schneider from Goldman Sachs set a target price of $80.0 on 11/18/2025
Thomas O'Malley from Barclays set a target price of $80.0 on 10/20/2025