Marvell Technology, Inc. (MRVL): A Bull Case Theory

We came across a bullish thesis on Marvell Technology, Inc. on CopyCat Invest’s Substack. In this article, we will summarize the bulls’ thesis on MRVL. Marvell Technology, Inc.'s share was trading at $66.59 as of September 11th. MRVL’s trailing and forward P/E were 22.15 and 23.87 respectively according to Yahoo Finance.

Marvell Technology, Inc. (MRVL) recently experienced a notable pullback following solid earnings, creating an attractive entry point for investors. Despite a projected quarter-over-quarter decline in its custom segment, management clarified that this reflects project timing rather than underlying weakness, given its concentrated customer base and the early stage of key ramps. The company’s networking business, which remains robust, appears underappreciated by the market, suggesting significant latent value beyond short-term fluctuations.

Recent developments in the broader enterprise technology landscape, including Oracle’s surprise surge in orders and bullish multi-year guidance, indicate that enterprise spending has not yet peaked, challenging prevailing “peak spend” concerns. Marvell’s diversified technology portfolio, spanning storage, custom silicon, and networking, positions the company to benefit from sustained demand across multiple high-growth areas. While near-term volatility is likely as investor sentiment adjusts, the combination of strong fundamentals, underrecognized growth in networking, and timing nuances in custom projects creates a compelling risk/reward scenario.

Investors are likely to recognize the value of Marvell’s networking and custom segments as project ramps progress, potentially driving meaningful upside. The recent market pullback provides a strategic opportunity to gain exposure to a high-quality semiconductor business at a temporary discount, with both solid near-term earnings visibility and significant optionality in its growth drivers. Overall, Marvell presents a compelling investment case for those seeking exposure to secular growth in enterprise technology and networking, supported by resilient fundamentals and an underappreciated portfolio of high-margin, high-growth businesses.

Previously we covered a bullish thesis on Marvell Technology, Inc. (MRVL) by Simple Investing in January 2025, which highlighted growth driven by data center revenue, custom ASIC expansion, and recovery in non-data center markets. The stock has depreciated approximately 42% since coverage due to short-term volatility. The thesis still stands, while CopyCat Invest emphasizes the recent pullback as a strategic entry point and the underappreciated value in networking.

Marvell Technology, Inc. is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 76 hedge fund portfolios held MRVL at the end of the second quarter which was 73 in the previous quarter. While we acknowledge the potential of MRVL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None.