Marvell Falls 4% Ahead of August 27 Earnings, Broadcom Slips as Semi-Sector Positioning Shifts

Marvell Technology (MRVL) stock declined 4% ahead of its August 27 earnings, while Broadcom (AVGO) stock slipped 2% amid shifting positioning within the semiconductor sector. The iShares Semiconductor ETF (SOXX) fell 3%, and the NASDAQ 100 tracking Invesco QQQ Trust (QQQ) declined 0.7%. Marvell has outperformed Broadcom this year, with a 179% YTD gain compared to Broadcom's 7%.

The company's AI infrastructure business, built on custom silicon and optical interconnects, has driven its strong performance. Marvell's forward P/E ratio is 58x, while Broadcom's is 20x. Options positioning ahead of the earnings report shows heavy bullish sentiment for Marvell (0.53 put/call ratio) but a heavier tilt toward puts for Broadcom (1.02 full-chain ratio).

Historically, Marvell's pre-earnings reactions have varied from a 18% gain to a 20% loss. Analysts have named Marvell as a top AI stock, but it did not make the list in the analyst's recent top 10 AI stocks. The August 27 report is expected to confirm Marvell's fiscal Q2 2027 results.