Marvell Technology Inc Stock Price, News & Analysis

Marvell (NASDAQ: MRVL) has launched the first 5nm 50G PAM4 device, the Prestera^® DX 7321 Ethernet switch, aimed at the carrier market, enhancing their 5G infrastructure platform. The switch offers 50% lower power consumption compared to existing options, supporting 5G fronthaul and edge connectivity. The Prestera portfolio now includes four switches with speeds from 1Gbps to 400Gbps. Additionally, Marvell’s OCTEON^® 10 DPU family is now sampling, featuring advanced hardware accelerators for demanding data center applications. Both products are currently available.

Marvell Technology, Inc. (NASDAQ: MRVL) announced a quarterly dividend of $0.06 per share, payable on October 27, 2021. Shareholders of record as of October 11, 2021 will be eligible for this dividend. Marvell emphasizes its commitment to delivering data infrastructure technology and solutions, collaborating with leading technology companies for over 25 years. This dividend reflects the company's ongoing focus on rewarding its shareholders while investing in future technological advancements.

On September 9, 2021, Marvell Technology (NASDAQ: MRVL) announced an Exchange Offer to exchange certain outstanding unregistered notes for new registered notes. The offer includes up to $500 million of 1.650% Senior Notes due 2026, $750 million of 2.450% Senior Notes due 2028, and $750 million of 2.950% Senior Notes due 2031. The Exchange Offer fulfills obligations under a registration rights agreement and is set to expire on October 7, 2021. No proceeds will be received by Marvell from this exchange.

Marvell Technology (NASDAQ: MRVL) will host a Virtual Investor Day on October 6, 2021, from 8 AM to 12:30 PM Pacific Time. The event will be live-streamed and accessible via the Investor Relations website with a replay available afterwards. Marvell, a leader in infrastructure semiconductor solutions, emphasizes collaborative partnerships to deliver innovative data infrastructure technology. The company has been trusted by leading tech firms for 25 years, aiming to transform enterprise, cloud, automotive, and carrier architectures.

Marvell Technology, Inc. (NASDAQ: MRVL) announced a conference call to discuss its second-quarter fiscal year 2022 financial results on August 26, 2021, at 1:45 p.m. PT. Interested participants can join by dialing 1-888-317-6003 or 1-412-317-6061 with passcode 6573871, or access the call via webcast on the Marvell Investor Relations website. A replay will be available until September 2, 2021. Marvell has been a trusted provider of semiconductor solutions to major technology firms for 25 years.

On August 3, 2021, Marvell Technology (NASDAQ: MRVL) announced a definitive agreement to acquire Innovium for $1.1 billion in an all-stock transaction. This acquisition aims to enhance Marvell's position in the fast-growing cloud data center market, leveraging Innovium's TERALYNX switching architecture. Innovium is expected to contribute approximately $150 million in incremental revenue next fiscal year. The deal, anticipated to close by the end of 2021, will be neutral to Marvell's non-GAAP EPS in the first full quarter and accretive in the following fiscal year.

Marvell (NASDAQ: MRVL) has been awarded the prestigious Bosch Global Supplier Award for excellence in Direct Purchasing – Mobility Solutions. This recognition highlights Marvell's top-notch performance in delivering advanced data infrastructure semiconductor solutions, making it one of the elite suppliers among approximately 23,000 companies collaborating with Bosch. This marks the 17th time Bosch has honored outstanding suppliers since 1987, underscoring the significance of this achievement.

Marvell (NASDAQ: MRVL) launched its OCTEON 10 DPU, designed for advanced security, networking, and storage workloads in 5G, cloud, and enterprise data centers. This DPU, built on a 5nm process, boasts three times the performance and 50% lower power consumption than previous models. It features AI/ML hardware acceleration, a 1 terabit switch, and supports high-speed I/O with DDR5 and PCIe 5.0. The OCTEON 10 is scalable across various applications, enhancing data processing from cloud to edge devices.

Marvell Technology (MRVL) reported Q1 fiscal 2022 results, highlighting net revenue of $832 million, a year-over-year growth of 17% for stand-alone Marvell. The acquisition of Inphi, completed on April 20, 2021, contributed to the results, with GAAP net loss of $(88 million) or $(0.13) per diluted share. Non-GAAP net income was $202 million, or $0.29 per share. For Q2 FY2022, Marvell expects revenue of $1.065 billion (+/- 3%) and a GAAP EPS guidance of $(0.37) (+/- $0.04).