PREVIEW: Marvell Technology seen reporting higher rev, EPS in results due after the bell

Shares of Marvell Technology MRVL.O are up 2.3% on Tues, with the U.S. chipmaker seen reporting higher yr-over-yr rev and earnings in its qtrly results due after the closing bell

Analysts expect Q3 rev of $2.07 bln vs $1.52 bln in the yr-ago period, and adj EPS of 73c vs 43c a yr ago, according to LSEG

On Mon, the Information reported, citing people with knowledge of the deal, that Marvell is in advanced talks to acquire chip startup Celestial AI

The median 12-mo PT on MRVL is $90.00; the stock is now at $93.15

Analyst recommendations on the stock include 30 "strong buy" or "buy" ratings and 13 "hold" ratings

MRVL is down about 16% YTD compared with a roughly 21% gain in the Nasdaq .IXIC in that period