E. Rossoni notes that this surname shows independent clusters of origin in several regions of Italy, with possible cores in the Milan area and in the Ferrara area, although he considers that the original area could be located in central Italy. According to Rossoni, the surname would derive from a nickname linked to the dialect term margutto —"simpleton, fool"—, documented in the Marche, Umbria and Lazio from the 15th century. As an alternative reading, he proposes a derivation from the French Margot.

F. De Laurentiis considers it a variant of the surname Margotti.