Shares of semiconductor company Marvell (MRVL) rose after the market closed in today’s trading ahead of its third-quarter earnings release on December 3. Analysts expect earnings per share of $0.41 on revenue of $1.46 billion. This represents a 0% increase in earnings per share, but a 2.8% increase in revenue year over year.

It’s worth noting that MRVL has a mixed track record when it comes to outperforming earnings. In fact, estimates have been beaten five times in the last eight quarters. However, analysts seem confident that the company can post better-than-expected numbers. In fact, Oppenheimer recently raised its price target on MRVL stock from $90 to $110 per share while maintaining its Outperform rating.

Analysts expect third-quarter results to be better than expected, as well as fourth-quarter guidance. This will likely be driven by the company’s tailored compute and networking/optics offerings, with tailwinds increasing through 2025 due to product cycles. It’s worth noting that Oppenheimer’s senior MRVL analyst Rick Schafer is a five-star analyst with a 71% success rate and an average return of 24.7% per review.

What do options traders expect?

Using TipRanks’ options tool, we can see what options traders expect from the stock immediately after the earnings report. In fact, the at-the-money straddle suggests options traders are expecting a strong price move of 8.86% in either direction. This estimate is based on the strike price of $96, with call options costing $4.36 and put options costing $4.15.

Is MRVL Stock a Buy?

As for Wall Street, analysts have a Strong Buy consensus rating on MRVL stock based on 12 Buys, one Hold, and zero Sells over the last three months, as shown in the chart below. After an 85% increase in the share price over the past year, MRVL’s average price target of $100.50 per share implies an upside potential of 4.7%.

See more MRVL analyst ratings