New York, June 11, 2026, 18:02 (EDT)
- Marvell Technology ended the day at $280.71, up 11.13%. The stock moved in a range from $258.43 to $282.32.
- Dan Durn will take over as CFO starting June 15. The company also kept its outlook for fiscal Q2 2027 unchanged.
- Investors stuck with Marvell’s (S&P 500: MRVL) coming index entry and its AI data-center story this week.
Marvell Technology, Inc. NASDAQ:MRVL jumped 11.13% to close at $280.71 on Thursday, the stock’s biggest gain as chips rebounded from earlier selling in tech names. Shares opened at $260.54 and hit an intraday high of $282.32 with volume at about 56.68 million shares. After the bell, MRVL slipped back to $276.51.
Tech and chip shares bounced, pulling the market higher Thursday. Semiconductor and hardware stocks were up, clawing back losses from the previous two-day slide. Traders came back to AI names as sentiment turned.
Marvell told investors that Dan Durn will take over as chief financial officer on June 15, 2026, replacing Willem Meintjes. Meintjes will stay on as an adviser until April 2027. Marvell said Durn quit the board as of June 10 after being named to the CFO job. The company kept its fiscal Q2 2027 outlook, first given on May 27.
Marvell Chairman and CEO Matt Murphy said Durn’s experience in semiconductors and capital markets makes him “well-suited to help us continue to win” during what Marvell is calling “a once-in-a-generation AI infrastructure build-out.” Durn was previously Adobe’s CFO and had senior finance jobs at Applied Materials, NXP Semiconductors, Freescale Semiconductor, and GlobalFoundries, Marvell said. Marvell Technology, Inc.
Marvell stock has been in focus with the company set to join the S&P 500 before trading opens on June 22, 2026, together with Flex. S&P Dow Jones Indices confirmed Marvell will take Pool Corp.’s spot in the index as part of the quarterly rebalance, stirring possible demand from funds and passive vehicles that use the benchmark.
Marvell posted another record for its fiscal first-quarter 2027, reporting revenue of $2.418 billion, up 28% year over year. Non-GAAP diluted EPS came in at $0.80. Murphy said Marvell expects growth to speed up through fiscal 2027, citing ongoing strength in data center.
Data center is still the main story for the stock’s AI focus. Marvell said it saw $1.833 billion in data-center revenue for the quarter ended May 2, 2026, up 27% year over year and making up 76% of total revenue. Communications and other revenue was up 29% to $585.1 million.
MRVL climbed past the average 12-month price target listed on Google Finance, but most analysts kept a positive view. Google showed 28 analysts had weighed in over the last three months—24 Buy, 4 Hold and 0 Sell—with the highest target at $360 and the average at $247.96.
