Marvell Technology shares jump more than 7% — sources point to different triggers

Share price jump

Shares of semiconductor company Marvell Technology (NASDAQ: MRVL) rose sharply this week, though the two source reports point to different triggers. According to Yahoo Finance (US), the stock gained 7.7% after Austria's AT&S announced in late September 2026 an expanded collaboration with Marvell to boost advanced IC substrate capacity for next-generation AI and cloud infrastructure. Marvell also affirmed a quarterly dividend of $0.06 per share, payable October 29, 2026.

Yahoo Finance Canada, however, attributes the rally to a separate event — the company's investor day, held on a Tuesday, during which shares initially dipped 3% before reversing sharply to climb as much as 10%, ultimately closing up 7.5%.

Investor day targets

Per Yahoo Finance Canada, CEO Matt Murphy told investors Marvell expects a $400 billion total addressable market (TAM) by 2030. Management's guidance significantly exceeded Wall Street expectations: the company projects about $20 billion in total revenue for fiscal year 2028, rising to between $70 billion and $90 billion by fiscal year 2031. By comparison, analysts had been forecasting $12.05 billion in revenue for the current fiscal year (2027) and $18.2 billion for fiscal 2028, up from a fiscal 2026 base of $8.2 billion. CFO Dan Durn said the global AI infrastructure buildout continues at massive scale and speed, securing long-term demand for Marvell's custom compute and networking chips.

AT&S deal and valuation

As reported by Yahoo Finance, the expanded AT&S deal gives Marvell greater access to complex packaging technologies that are increasingly critical for high-performance AI chips and data center hardware. The move follows a March 2026 plan under which Marvell committed roughly $1.0 billion in supplier prepayments and long-term manufacturing agreements to secure scarce substrates. Analyst projections for Marvell's future diverge: one narrative forecasts $30.4 billion in revenue and $9.6 billion in earnings by 2029, implying 47.5% annual revenue growth, with a fair value of $293.88 per share — an 8% upside from the current price. More optimistic analysts, before this latest news, had projected as much as $35.7 billion in revenue and $10.1 billion in earnings for 2029.