Marvell jumps before earnings with AI trade pointing at $200
Marvell Technology traded at $206.75 in premarket Tuesday, up 5.3% from Friday’s close, ahead of its fiscal first-quarter results due after the close Wednesday. Options markets are pricing in a move of up to 12% after earnings. Analysts expect Q1 revenue near $2.41 billion and adjusted EPS of 80 cents, almost 30% higher than last year. Stifel raised its price target to $210, citing strength in optical interconnects.