Shares in Marvell Technology slid in premarket trading.

Shares in Marvell Technology tumbled on Friday as investors mulled its deal with Alphabet's Google, hoping it would have delivered more growth sooner. Analysts said hopes were high for the deal, but more information is likely to come at the semiconductor company's upcoming analyst day.

Marvell's stock (MRVL) fell 7.5% in premarket trading after reporting financial results after the closing bell Thursday.

The company posted revenue of $2.5 billion in the second quarter, which was in line with analysts' expectations. It said it was raising its guidance for revenue in 2027 and 2028 from $11.5 billion to $12 billion and from $16.5 billion to $18 billion, respectively.

However, investors remained focused on Marvell's partnership with Alphabet's Google (GOOGL), which sees the two companies working together on the latter's custom chips.

Management explained on Thursday that the "big impact" of the deal would not be seen until fiscal year 2029's results and beyond - much further away than hoped.

For analysts at Cantor, led by C.J. Muse, although Marvell posted a moderate beat and raised its guidance, expectations were heightened following the announcement of the Google partnership last week.

They wrote in a note published Thursday that while Cantor remains neutral on the stock, the post-earnings selloff and potential for management to reveal more about the company's deal with Google at its analyst day in October could create upside in the near-term.

Strategists at Citigroup, led by Atif Malik, noted that they were impressed by Marvell's projected year-on-year sales growth over the next three years, with revenue from data center expected to increase by 60% in 2027 and over 60% in 2028.

"Mechanically, guidance moved higher but was broadly consistent with the trajectory management had laid out ahead of the print," analysts at Morgan Stanley, headed by Joseph Moore, said, adding that revenue growth associated with Google had already been reflected in some of 2028's outlook.

They also wrote that Marvell tends to trade differently than competing stocks.

"They tend to give very bullish long term forecasts then execute to those forecasts, vs other companies that tend to trade more on beats and raises," the strategists wrote. "That puts significant focus on the analyst day."

-Nora Redmond