Marvell Technology Inc Stock Price, News & Analysis

Marvell (NASDAQ: MRVL) announced the deployment of its Prestera® Ethernet switch platforms, integrated with Dent, by leading global enterprises. This collaboration aims to modernize networking through open-source solutions, enhancing the efficiency of distributed enterprise edges, particularly in smart retail. Dent's Linux-based system simplifies integrations and offers flexibility in network management. Marvell's technology enhances performance, security, and visibility, accelerating the transition to disaggregated networks, critical for borderless enterprises.

Marvell Technology, Inc. (NASDAQ: MRVL) announced final results for its Exchange Offer to convert outstanding unregistered notes into registered Senior Notes. The offer included $500 million of 1.650% notes due 2026, $750 million of 2.450% notes due 2028, and $750 million of 2.950% notes due 2031. By the Expiration Date of October 7, 2021, all Outstanding 2026 and 2031 Notes were fully tendered, and 99.99% of the 2028 Notes were validly exchanged. The Exchange Offer has no financial proceeds for the company and settlement is scheduled for October 8, 2021.

Marvell Technology has successfully completed its acquisition of Innovium, Inc., a prominent provider of networking solutions for cloud and edge data centers, as of October 5, 2021. This acquisition enhances Marvell's position in the fast-growing switch market with cloud-optimized solutions. The move aims to extend Marvell's leadership in the cloud infrastructure domain, allowing for immediate participation in this expanding market segment.

On October 5, 2021, Marvell (NASDAQ: MRVL) announced its new advanced silicon platform utilizing TSMC's 3nm process technology. This platform enhances data infrastructure by offering superior power, performance, and area efficiency. It supports cloud data centers, 5G, automotive, and enterprise markets, featuring a comprehensive silicon platform with advanced die-to-die interfaces. Marvell's collaboration with TSMC enables high-performance solutions and faster time-to-market for its customers, ensuring readiness for demanding cloud applications.

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.