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Barchart's data remains largely bullish on Marvell Technology (MRVL) shares ahead of the custom chips manufacturer's fiscal Q2 earnings scheduled for Aug. 27 after market close. 

The consensus estimate for MRVL's earnings per share (EPS) is set at $0.65 as of writing, which translates to 30% growth versus the same quarter last year. 

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Marvell's earnings arrive as the stock is already in a sharp uptrend, with the artificial intelligence (AI) stock currently up more than 45% versus its July low. 

According to Barchart, the options market sentiment is constructive heading into MRVL's earnings event, as evidenced by the put-to-call ratio of 0.54x on contracts expiring Aug. 28. 

And the upper price on those contracts is set at $261 currently, indicating traders expect the fiscal Q2 release to trigger a nearly 9% rally in the artificial intelligence stock. Crucially, the technical setup heading into the earnings event mirrors this optimism as well. 

Marvell currently sits handily above its key moving averages (MAs), reinforcing that bulls remain in control across multiple timeframes. 

Rosenblatt Securities' analysts have raised their price target on Marvell stock to $300 ahead of the Q2 results, indicating potential for a 25% rally from current levels. Their bullish stance is based primarily on accelerating demand for custom ASICs driven by tier-1 cloud hyperscalers.  

As mega-cap tech firms rapidly scale their AI workloads, MRVL's custom compute and high-speed electro-optics platforms are positioning the firm as a dominant secondary beneficiary behind Nvidia (NVDA).

Analysts at the firm expect custom silicon wins and electro-optics architecture, specifically 800G and emerging 1.6T transceivers, to supercharge Marvell's data center segment revenue, driving robust margin expansion, multi-year top-line acceleration, and continued market share gains.

Other Wall Street firms seem to agree with Rosenblatt's positive view on MRVL stock, with some calling for even more upside through the remainder of 2026. 

The consensus rating on Marvell Technology sits at "Strong Buy" currently, with price targets as high as $400 indicating potential upside of more than 65% from here.  

On the date of publication, Wajeeh Khan did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com