Marvell Technology Inc Stock Price, News & Analysis

Marvell Technology, Inc. (NASDAQ: MRVL) announced a quarterly dividend of $0.06 per share, payable on July 27, 2022, to shareholders on record as of July 8, 2022. This move demonstrates the company's commitment to rewarding shareholders while it continues to enhance its data infrastructure technology. Marvell has established trusted partnerships with leading technology companies for over 25 years, focusing on delivering solutions that secure and manage data for various sectors including enterprise and cloud.

Marvell (NASDAQ: MRVL) will participate in The Six Five Summit on June 8, 2022, delivering a keynote titled 'The Cloud-Optimized Silicon Era'. CEO Matt Murphy will discuss market dynamics impacting the semiconductor industry and outline Marvell's strategy across data center, carrier, automotive, and enterprise sectors. The focus will be on optimizing unique cloud systems and previewing disruptive technologies for future data infrastructure, including innovations for the metaverse and advancements in AI and machine learning.

Marvell (NASDAQ: MRVL) launched its third generation Brightlane Ethernet Switch, enhancing automotive network security and reliability. This switch is the first to feature lockstep dual-core Arm processing, improving safety for software-defined vehicles (SDVs). Key features include advanced security protocols, increased bandwidth, and support for Time-Sensitive Networking (TSN) standards. Designed to meet ISO 26262 ASIL-B safety standard, the switch comes in nine and sixteen-port versions. Volume production is expected later this year, targeting collaborations with leading auto manufacturers.

Marvell Technology (MRVL) reported Q1 fiscal 2023 net revenue of $1.447 billion, reflecting a 74% year-on-year growth. The GAAP net loss was $(166) million, or $(0.20) per diluted share, while non-GAAP income was $448 million, or $0.52 per diluted share. Cash flow from operations reached $194.8 million. The company expects Q2 revenue at $1.515 billion, with a projected 5% sequential growth. GAAP gross margin is anticipated between 49.6% and 51.9%.

Marvell (NASDAQ: MRVL) has announced the shipment of over 100,000 400G Coherent Digital Signal Processors (CDSPs), marking a significant milestone in the deployment of open and standards-based pluggable solutions for cloud and carrier networks globally. The CDSP portfolio includes innovative products like Canopus™ and Deneb™, designed for high-performance networking. Marvell has pioneered several industry firsts in 400G technology, enhancing flexibility and efficiency in network upgrades. This achievement positions Marvell as a leader in the growing 400Gbps pluggable ecosystem.

Marvell (NASDAQ: MRVL) will participate in a webinar hosted by J.P. Morgan on May 17, 2022, focusing on the impact of Compute Express Link™ (CXL™) on cloud data center architectures. The session titled Marvell's Vision for Transforming Cloud Data Centers with CXL will address how CXL technology enhances performance for emerging AI/ML applications. Key presenters include Dan Christman and Thad Omura, with registration available online. A video replay will be accessible post-event. This initiative underscores Marvell's commitment to advancing data infrastructure solutions.

Marvell (NASDAQ: MRVL) announced its acquisition of Tanzanite Silicon Solutions, enhancing its Compute Express Link™ (CXL™) technology portfolio in an all-cash deal. The acquisition aims to address significant memory scaling challenges faced by data centers and improve resource allocation for AI and ML workloads. As a result, Marvell expects to strengthen its position in the cloud market with innovative solutions that optimize performance and reduce costs. The transaction is anticipated to close in Q2 of the fiscal year, pending shareholder approval.

Marvell (NASDAQ: MRVL) has been ranked #3 overall and in Workplace Wellness in the Best Places to Work 2022 for large companies by the San Francisco Business Times and Silicon Valley Business Journal. This accolade is based on employee survey results, highlighting Marvell's commitment to fostering a positive work environment. CEO Matt Murphy emphasized that this recognition reflects the company's culture and values, showcasing a collaborative, compassionate, and respectful workplace.

Marvell Technology, Inc. (NASDAQ: MRVL) has announced a conference call to discuss its first quarter of fiscal year 2023 financial results on May 26, 2022, at 1:45 p.m. PT. Interested parties can join the call by dialing 1-888-317-6003 or 1-412-317-6061, or by accessing the webcast via the Marvell Investor Relations website. A replay will be available until June 2, 2022. Marvell aims to transform data infrastructure with its semiconductor solutions, supporting customers' needs and future ambitions.