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MRVL shares fell by 12% in the latest session amid rumors of a potential LITE acquisition and are now down 35% from their highs.
Jonah Lupton called attention to the stock trading below 30 times CY2027 EPS, noting earnings per share are expected to grow at a 60-70% compound annual growth rate over the next few years.
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Marvell recently raised its full-year 2028 revenue forecast to $20 billion, citing strong growth in connectivity, according to company guidance. The outlook marks an increase from the previous projection of $18 billion. Jonah Lupton reported the update earlier this year.