Marvell Technology's data center revenue grew 27.2% to $1.83 billion in its latest quarter, driving total revenue up 27.6% to $2.42 billion, but the stock's premium valuation and thin profitability are drawing investor scrutiny. Management raised its fiscal 2028 revenue forecast to $16.5 billion and expects interconnect growth to top 70% in fiscal 2027, while an expanded partnership with NVIDIA covers silicon photonics and AI networking. However, net margin fell to 1% and earnings per share dropped 80% to $0.04, even as gross margin expanded to 52% and free cash flow margin rose to 20%. Hedge fund ownership declined to 79 portfolios from 85, and short interest stands at 4.34% of float, the highest among peers including Broadcom, NVIDIA, and Qualcomm.
