[DEVELOPING] Marvell lifts FY28 revenue target to about $20B and sets $70-90B FY31 framework at investor day
At its Oct 6 investor day, Marvell raised its FY28 revenue target to about $20B, above the $18.2B consensus, with about $18B expected from data center. It also set an FY31 framework of $70-90B in revenue and EPS of $30 or more, and raised its FY29 custom-silicon target to more than $12B. Investing.com reported the stock reversed an early 3% dip and closed up about 5.8% at $287.01. Management described the company as 'connectivity first'. Points to watch: custom-silicon ramps, wins with new hyperscaler customers, and gross margins as the business mix shifts.