Marvell (MRVL) stock has returned 216% over the past twelve months, versus about 18% for the S&P 500. At a recent Investor Day, management set a fiscal 2031 revenue target of $70 billion to $90 billion, and the shares rose about 6% that day. The stock trades at 91.8 times trailing earnings versus 22.3 for the S&P 500, and those earnings include a one-time pre-tax gain of about $1.8 billion from selling its automotive Ethernet business that will drop out of the trailing figure. Record fiscal Q2 2027 revenue of $2.739 billion rose 37%, with data center chips at 79% of sales, and the fiscal 2028 outlook was raised to about $20 billion. The article notes gross margin may slip as the custom chip business ramps, with the fiscal Q3 2027 revenue guide at $3.15 billion, plus or minus 5%.
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