Marvell Technology: Bullish Thesis Highlights Robust Growth Potential, Improved Valuation

Marvell Technology, Inc. (MRVL) is trading at $83.62 with a trailing and forward P/E of 29.20 and 23.09 respectively. Despite a recent selloff, the company delivered solid 3Q results and issued constructive 4Q guidance. Management expects earnings growth to remain robust, with next year's EPS estimates at approximately 3.55. The stock's volatility has been exacerbated by speculation around potential custom ASIC socket losses, but the custom ASIC business represents only 25% of the company's broader data center exposure. The company's networking segment continues to deliver strong results and remains a critical growth engine within the data center market.