Marvell Technology (NASDAQ:MRVL) shares fell after strong Q2 results but weak Q3 guidance. Adjusted earnings were 67 cents per share, beating estimates by a penny. Revenue was $2.006 billion, just below the $2.009 billion estimate. The company’s CEO expects continued growth into Q3 with operating margin and EPS expansion.

For Q3, Marvell anticipates revenue between $1.957 billion and $2.163 billion and adjusted EPS of 69-79 cents, lower than analyst estimates. Rosenblatt Securities maintained a Buy rating but cut the price forecast to $95 from $124, citing headwinds and opportunities.

Analysts responded to Marvell’s results with mixed reactions. JP Morgan reiterated an Overweight rating with a price target of $120, while Goldman Sachs maintained a Neutral rating with a price forecast of $72. The company’s stock is trading lower by 16.15% at $64.76.

Despite near-term revisions, Rosenblatt sees long-term potential in Marvell’s pipeline, with 18 upcoming ASICs and over 50 additional design opportunities. J.P. Morgan and Goldman Sachs adjust their ratings and price targets based on near-term challenges and long-term drivers.

Read more at Yahoo Finance: Marvell Stock Plunges As Wall Street Warns Of Limited Near-Term Growth Prospects