Marvell Technology Inc - MRVL STOCK NEWS

Marvell Technology Group Ltd. (NASDAQ: MRVL) announced a quarterly dividend of $0.06 per share, payable on October 28, 2020. Shareholders of record as of October 12, 2020 will receive this dividend. Marvell focuses on delivering innovative data infrastructure technology, providing semiconductor solutions to enhance the management of data for a diverse range of industries, including cloud and automotive. The company's partnerships with leading tech firms underscore its commitment to evolving data architectures for future needs.

Marvell (NASDAQ: MRVL) announced its membership in the Open RAN Policy Coalition, aimed at promoting open standards in the Radio Access Network (RAN) market. This coalition consists of key operators and technology providers to advance the adoption of interoperable solutions. Marvell, leveraging its extensive experience in RAN technologies, aims to drive innovation in the 5G ecosystem through collaboration and participation in various standards initiatives. Executives emphasize the importance of open interfaces for the success of emerging wireless technologies.

Marvell Technology Group Ltd. (NASDAQ: MRVL) reported its second-quarter fiscal 2021 results, showcasing revenue of $727 million, exceeding guidance. This marks an 11% year-on-year and 5% sequential growth. However, the company experienced a GAAP net loss of $158 million ($0.24 per share). Non-GAAP net income stood at $140 million ($0.21 per share). Marvell anticipates third-quarter revenue to reach $750 million (+/- 5%), amid challenges from U.S. export restrictions and COVID-19 uncertainties.

Marvell Technology Group Ltd. (NASDAQ: MRVL) will hold its Virtual Investor Day on October 8, 2020, from 8 AM to 11 AM Pacific Time. The event will be accessible via a live webcast on Marvell's Investor Relations website, with a replay available until October 30, 2020. Marvell focuses on infrastructure semiconductor solutions and has been trusted by leading technology companies for over 25 years. The company aims to transform enterprise, cloud, automotive, and carrier architectures through deep collaboration with its customers.

Marvell (NASDAQ: MRVL) has appointed Marachel Knight, SVP of Engineering and Operations at AT&T, to its board of directors as of July 30, 2020. Knight brings over 25 years of technology leadership experience, particularly in 5G planning and rollout. Her addition is expected to enhance Marvell's focus on its 5G silicon solutions. The board also saw the departure of directors Oleg Khaykin and Donna Morris who chose not to stand for reelection. CEO Matt Murphy expressed enthusiasm about Knight’s potential contributions to the company’s technology and business priorities.

Marvell Technology Group Ltd. (NASDAQ: MRVL) will host a conference call on August 27, 2020, at 1:45 p.m. PT to discuss its second-quarter fiscal 2021 financial results. Interested participants can join by dialing 1-844-647-5488 or 1-615-247-0258 with passcode 9776144. The call will also be available via webcast on the Marvell Investor Relations website, with a replay accessible until September 3, 2020.

Marvell is a leader in infrastructure semiconductor solutions, delivering data infrastructure technology through partnerships with major technology companies.

Marvell (NASDAQ: MRVL) announced an integrated portfolio of Ethernet switch and PHY solutions designed for enterprise networks, facilitating secure data movement and addressing borderless enterprise needs. This new lineup supports mobility and cloud applications, ensuring zero downtime and high bandwidth for remote work. Key features include advanced telemetry, flow-aware intelligence, and enhanced security, with solutions spanning from 10Mbps to 400Gbps. The new products are positioned to upgrade networks for Wi-Fi 6 and 5G, with the first products available now and the full suite expected by year’s end.

Marvell Technology Group Ltd. (NASDAQ: MRVL) has announced the 2020 Annual General Meeting of Shareholders will be held virtually on July 23, 2020, at 1:00 p.m. PT. This change is due to the COVID-19 pandemic, prioritizing the health of participants. Shareholders as of May 15, 2020, can participate and vote online. The meeting will not be in-person, and prior proxy materials remain valid for voting. Additional details are available on the company's Investor Relations website.