On August 31, Marvell Technology fell 3.04% in regular trading, trading at approximately $210.18/share, with turnover of $18.59 billion. The decline extended the sharp post-earnings selloff that began on August 29, when the stock plunged over 10%.

On the news front, President Capital lowered its price target on Marvell from $380 to $340 while maintaining a Buy rating. The downgrade adds to lingering investor concerns following the company's FY2027 Q2 earnings release. Although Marvell reported revenue of $2.74 billion (up 37% YoY) and adjusted EPS of $0.94 — both modestly beating consensus — and guided Q3 revenue to $3.15 billion versus estimates of $3.04 billion, the beats were considered insufficient given elevated expectations. The stock had rallied over 10% in the week prior to earnings on analyst upgrades from Wells Fargo, HSBC, UBS, and Susquehanna, with year-to-date gains reaching 184%. Investor skepticism over the revenue recognition timeline of Google's custom chip deal further pressured shares, creating a classic buy-the-rumor, sell-the-news pattern.

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