Welcome to our dedicated page for Marvell Technology news (Ticker: MRVL), a resource for investors and traders seeking the latest updates and insights on Marvell Technology stock.
Marvell Technology, Inc. (NASDAQ: MRVL) stands as a global leader in the semiconductor industry, specializing in the design and manufacture of data infrastructure solutions. With roots dating back to 1995, Marvell has built a robust international presence, employing over 7,000 professionals across its numerous design centers located in places such as China, Europe, Hong Kong, India, Israel, Japan, Malaysia, Singapore, Taiwan, and the U.S. The company's U.S. subsidiary operates out of Santa Clara, California.
Marvell Technology excels as a fabless semiconductor company, shipping over one billion chips annually. These chips are pivotal to various sectors including data centers, automotive, enterprise, carrier infrastructure, and consumer markets. The company's extensive product portfolio encompasses processors, optical and copper transceivers, switches, and storage controllers. Marvell's core competencies in microprocessor architecture and digital signal processing empower it to drive high-volume storage solutions, mobile and wireless technologies, and networking products.
The company's recent achievements underscore its commitment to innovation and growth. Marvell reported fourth-quarter fiscal 2024 revenue of $1.427 billion, surpassing the mid-point of its guidance. AI-driven advancements significantly boosted data center revenue by 38% sequentially and 54% year-over-year. Additionally, Marvell's technology is essential for evolving AI infrastructure, positioning it well for future growth as AI continues to expand.
In fiscal 2025, Marvell anticipates continued growth in its data center revenue, bolstered by shipments of cloud-optimized silicon for AI. Despite some softness in consumer, carrier infrastructure, and enterprise networking demand, the company projects a recovery in the latter half of the fiscal year. Currently, Marvell is exploring strategic initiatives such as a $3 billion stock repurchase program, aimed at enhancing shareholder value.
Moreover, Marvell has recently introduced pioneering products like the Marvell Nova 2, the industry's first 1.6 Tbps PAM4 optical DSP, meeting the rising performance demands of AI and high-performance computing. This innovation in optical connectivity underscores Marvell's commitment to staying at the forefront of data infrastructure solutions.
News Highlights:
- Marvell reported financial results for the fourth fiscal quarter and fiscal year ended February 3, 2024, noting significant revenue driven by AI applications.
- The company’s Board of Directors authorized a $3 billion addition to its stock repurchase program, marking the largest repurchase authorization in its history.
- Silicon Box announced a major investment in Northern Italy to build a state-of-the-art semiconductor assembly and test facility, further expanding Marvell's global footprint.
- Marvell introduced the Nova 2 DSP to meet the escalating performance demands of AI and high-performance computing.
With a commitment to collaboration and transparency, Marvell continues to transform enterprise, cloud, automotive, and carrier architectures to better serve the dynamic market needs. Investors can stay updated on Marvell's financial and technological advancements through regular conference calls and webcasts hosted by the company.
Marvell Technology, Inc. (NASDAQ: MRVL) will hold a conference call on December 2, 2021, at 1:45 p.m. PT to discuss its Q3 FY2022 financial results. The call can be joined by dialing 1-888-317-6003 or 1-412-317-6061 with the passcode 8563448. The event will also be webcast on the Marvell Investor Relations website. A replay will be available until December 9, 2021, by calling 1-877-344-7529, passcode 10161867. This call is crucial for investors looking to understand the company's latest performance.
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.
FAQ
What is the current stock price of Marvell Technology (MRVL)?
What is the market cap of Marvell Technology (MRVL)?
What does Marvell Technology, Inc. specialize in?
Where is Marvell Technology headquartered?
How many employees does Marvell Technology have?
What recent financial achievements has Marvell Technology reported?
What is Marvell Technology’s stock repurchase program?
What are some key products in Marvell's portfolio?
How does Marvell contribute to AI infrastructure?
What strategic investments has Marvell made recently?
How does Marvell support its investors?
What end markets does Marvell serve?
