NEW YORK, July 3, 2026, 19:01 EDT
- Marvell finished the latest U.S. session at $245.29, dropping 9.84% before the Nasdaq closed Friday for Independence Day observed.
- The stock dropped around $23.4 billion in market value in just one session. That’s about 3.2 times more than the annualized run rate of its latest quarterly data-center revenue.
- The selloff was bigger than what happened with NVIDIA Corporation NASDAQ:NVDA, Broadcom Inc. NASDAQ:AVGO, Advanced Micro Devices, Inc. NASDAQ:AMD and Micron Technology, Inc. NASDAQ:MU.
- Marvell President and COO Chris Koopmans sold 10,000 shares in a July 1 Form 4, using a 10b5-1 plan. The sale is small compared to Marvell’s 874.8 million shares outstanding.
U.S. markets closed on Friday for the Independence Day holiday, so Marvell’s last full session was Thursday. Nasdaq says July 3, 2026, will be a holiday. NYSE also has that date as the observed Independence Day.
Marvell traded higher early Tuesday but then dropped sharply. Shares ended the week 17.7% under Tuesday’s close and down 8.1% from the last Friday close at $266.77. The week was short, but losses were heavy.
| Holiday-week tape | Close | Day change | Volume |
|---|---|---|---|
| Jun 26 | $266.77 | -5.15% | 41.99 mln |
| Jun 29 | $277.75 | +4.12% | 31.75 mln |
| Jun 30 | $297.89 | +7.25% | 37.52 mln |
| Jul 1 | $272.05 | -8.67% | 33.82 mln |
| Jul 2 | $245.29 | -9.84% | 38.58 mln |
The 9.84% drop only tells part of the story. Marvell shares lost $26.76 in one session, and with 874.8 million shares out, that’s around $23.4 billion cut from the company’s equity value in a day. That loss comes to about 3.2 times Marvell’s $7.33 billion annualized data-center revenue run rate from Q1.
| Marvell valuation check | Figure |
|---|---|
| Jul 2 close | $245.29 |
| One-day stock move | -9.84% |
| Market cap at close | $214.58 bln |
| Estimated value erased | $23.4 bln |
| Q1 data-center revenue | $1.83 bln |
| Annualized Q1 data-center revenue | $7.33 bln |
| Market cap / annualized Q1 data-center revenue | 29.3x |
| Same ratio before the selloff | 32.5x |
This is a problem for Marvell now that it trades more like a data center chip play. Data center sales were 76% of revenue last quarter. In its latest 10-Q, Marvell warned that a large drop in AI capex by customers could hit its numbers.
The tape shows this wasn’t only a sector move. Marvell fell more than Nvidia, down 1.47%, Broadcom, off 2.48%, AMD, down 4.24%, and Micron, which lost 5.45% last session.
| AI-chip peer check | Latest price | Day move | Intraday range / close | Volume |
|---|---|---|---|---|
| Marvell Technology, Inc. NASDAQ:MRVL | $245.29 | -9.84% | 15.4% | 38.58 mln |
| NVIDIA Corporation NASDAQ:NVDA | $194.83 | -1.47% | 3.9% | 142.39 mln |
| Broadcom Inc. NASDAQ:AVGO | $360.45 | -2.48% | 4.9% | 26.79 mln |
| Advanced Micro Devices, Inc. NASDAQ:AMD | $517.82 | -4.24% | 9.1% | 28.23 mln |
| Micron Technology, Inc. NASDAQ:MU | $975.56 | -5.45% | 12.6% | 61.84 mln |
AI stocks lagged ahead of the holiday. The Nasdaq Composite (INDEXNASDAQ:IXIC) dropped 0.8% Thursday. The S&P 500 (INDEXSP:.INX) barely moved, and the Dow Jones Industrial Average (INDEXDJX:.DJI) set another record, the AP said. “Asian stocks found some footing,” Stephen Innes at SPI Asset Management said after tech got hit for two sessions. AP News
Marvell posted record Q1 fiscal 2027 revenue at $2.418 billion, up 28%. The company set Q2 revenue guidance at $2.7 billion, give or take 5%. CEO Matt Murphy said Marvell had “exceptional AI-related bookings” and is “significantly raising” its outlook for fiscal 2027 and 2028 revenue. Marvell Technology, Inc.
Margins are in focus. Marvell put out second-quarter non-GAAP gross margin guidance of 58.25% to 59.25%. But Zacks said Friday that margin expansion is not the main earnings lever for Marvell right now, pointing to its move into custom silicon, optical parts and switches.
July 1’s insider trade isn’t big enough to move the needle alone. Koopmans sold 10,000 shares for a weighted average of $281.92 through a 10b5-1 plan set up Jan. 5. The Form 144 said the planned sale was valued at around $2.82 million. That’s just 0.0011% of Marvell’s shares outstanding.
This week has few company events on the calendar. Marvell shows no new events scheduled right now. Its next listed stock date is July 10, the dividend record date for the planned $0.06 per share quarterly payout set for July 30.
