Marvell Technology Inc (NASDAQ:MRVL) earlier issued upbeat fiscal-fourth quarter guidance due to artificial intelligence (AI) demand. The company also reported a top- and bottom-line win for the third quarter and saw no fewer than 17 price-target hikes, including one from Rosenblatt Securities to $140 from $120.

Marvell shares are trading higher on Wednesday after the company reported better-than-expected 2025 fiscal-year third-quarter earnings and issued fourth-quarter guidance above estimates on Tuesday after the bell.

Marvell (Nasdaq: MRVL) reported earnings after the bell today and as of 4:45 p.m. ET, its shares are up 9%. Let's dive into the most important numbers in its earnings report and look at the key drivers that could move its share price in 2025.

Marvell stock rallied about 20% following strong Q3 earnings. Wall Street analysts see further upside in shares of the semiconductor firm.

Marvell Technology reported quarterly earnings of 43 cents per share, which beat the analyst consensus estimate of 41 cents. Quarterly revenue came in at $1.52 billion, which beat the consensus estimate of $1.46 billion and is an increase over sales of $1.42 billion from the same period last year.

We recommend a 'Strong Buy' for Marvell Technology due to robust growth in custom silicon solutions and expanded partnership with Amazon AWS. See more on MRVL.

Chief Executive Matt Murphy, for his part, said that “the exceptional performance” in the fiscal third quarter and the outlook for the current quarter are mostly thanks to Marvell’s MRVL AI silicon programs and “robust ongoing demand” from cloud customers.