Marvell Technologies Inc. (NASDAQ:MRVL) is expected to post its fiscal Q3 results tomorrow; analysts estimate point to healthy increase over the prior quarter.

Estimated at $0.41, normalized earnings per share (EPS) is expected to jump to $0.11 from the $0.30 stated in the previous quarter. With a GAAP basis, the EPS estimate is -$0.08, which narrows from the -$0.22 loss recorded last quarter.

• Warning! GuruFocus has detected 8 Warning Signs with MRVL.

Comparatively to the $1.27 billion recorded in the previous quarter, revenue for the quarter is expected to be $1.46 billion, a $190 million rise. The company's last quarter beat income projections by $18.96 million, therefore setting the benchmark for yet another great performance.

With two upward EPS changes and one downward adjustment over the past 90 days, analysts have displayed optimism reflecting a generally positive sentiment heading into the earnings announcement. If these projections come true, Marvell's ongoing momentum for expansion during the fiscal year would be shown by strong expectations for the AI-oriented chipmaker to maintain its performance trajectory in Q4.

The AI giant has been on a stellar run over the past month, jumping almost 10% and over 22% in the past six months alone. YTD, the stock is up an impressive 54%.

This article first appeared on GuruFocus.