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 Group Ltd. (NASDAQ: MRVL) announced the closing of a $2 billion Senior Notes Offering through its subsidiary, Marvell Technology, Inc. The offering includes $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 proceeds will primarily fund the acquisition of Inphi Corporation, expected to close in April 2021, pending necessary shareholder approvals. These notes will accrue interest semi-annually, beginning October 15, 2021.
Marvell Technology Group Ltd. (NASDAQ: MRVL) announced private exchange offers for up to $500 million of its 4.200% Senior Notes due 2023 and 4.875% Senior Notes due 2028. The offers are linked to the anticipated acquisition of Inphi Corporation, aimed for April 2021. Eligible holders can exchange for new MTI Notes of the same amounts, with early participation bonuses for timely submissions. The exchange is conditioned on the merger's completion and will expire on April 30, 2021. Consent solicitations are also underway to amend existing indentures.
Marvell Technology Group Ltd. announced the pricing of a $2 billion Senior Notes Offering through its subsidiary, Marvell Technology, Inc. The offering includes $500 million in 1.650% Senior Notes due 2026, $750 million in 2.450% Senior Notes due 2028, and $750 million in 2.950% Senior Notes due 2031. Proceeds will primarily fund the acquisition of Inphi Corporation, scheduled to close in April 2021, pending shareholder approvals. The offering is expected to finalize by April 12, 2021, under Rule 144A and Regulation S of the Securities Act.
On March 25, 2021, Samsung Electronics and Marvell (NASDAQ: MRVL) jointly announced the development of a new System-on-a-Chip (SoC) aimed at enhancing 5G network performance. Designed for Samsung's Massive MIMO and advanced radios, the SoC is set for market introduction in Q2 2021. It supports both 5G and 4G networks, boasting a significant 70% reduction in power consumption compared to previous solutions. This collaboration highlights the ongoing partnership between the two companies to drive innovation in 5G technology.
Marvell Technology Group and Inphi Corporation have set dates for shareholder votes regarding Inphi's acquisition by Marvell. Marvell's vote will occur on April 15, 2021, at 2:00 p.m. PT, while Inphi's vote is scheduled for the same day at 10:00 a.m. PT. Both companies' boards recommend shareholders vote 'FOR' the merger, which aims to integrate Marvell's semiconductor solutions with Inphi's data movement technologies, enhancing their position in the cloud and 5G markets.
Marvell Technology Group Ltd. (NASDAQ: MRVL) has received Chinese regulatory approval for its proposed acquisition of Inphi Corporation, with the deal expected to close in April 2021, pending shareholder approval. This acquisition is part of Marvell's strategy to strengthen its position in data infrastructure semiconductor solutions. The SEC has declared effective the registration statement related to the transaction, which is crucial for shareholders of both companies. Investors are encouraged to read all relevant documents for essential details regarding the transaction.
Marvell Technology Group Ltd. (NASDAQ: MRVL) has declared a quarterly dividend of $0.06 per share, payable on April 28, 2021, to shareholders of record as of April 9, 2021. This decision emphasizes the company's commitment to returning value to its shareholders while continuing to build infrastructure technology solutions for various industries. Marvell has been a trusted partner for leading tech companies for 25 years, focusing on transforming enterprise, cloud, automotive, and carrier architectures.
Marvell Technology Group Ltd. (NASDAQ: MRVL) reported fourth-quarter net revenue of $798 million, exceeding previous guidance. GAAP net income was $17 million ($0.02/share), while non-GAAP net income was $201 million ($0.29/share). For fiscal 2021, total net revenue reached $3.0 billion, with a GAAP net loss of $(277 million) ($(0.41/share)). Non-GAAP net income for the year was $627 million ($0.92/share). Looking ahead, Marvell expects first-quarter revenue of $800 million +/- 5%, with guidance reflecting potential impacts from U.S. export restrictions and ongoing pandemic uncertainties.
Marvell (NASDAQ: MRVL) announced its collaboration with Facebook Connectivity to join the Evenstar program, focusing on developing a 4G/5G OpenRAN Distributed Unit (DU) design. Utilizing the OCTEON Fusion baseband processors, the DU aims to enhance the OpenRAN ecosystem by providing a cost-optimized, interoperable solution for mobile network operators. The DU supports up to 16 downlink layers with high-performance capabilities, ready for trials by next year. This partnership underscores Marvell's dedication to advancing OpenRAN technology and fostering collaborative efforts within the industry.
Marvell (NASDAQ:MRVL) announced a partnership with Fujitsu to supply its OCTEON Fusion baseband processors for Fujitsu's 5G NR base stations. This collaboration aims to enhance Fujitsu's 5G RAN footprint globally, leveraging Marvell's technology to meet diverse network needs. The OCTEON Fusion processors are now in volume production and are gaining traction among telecom OEMs, indicating a strong demand for advanced 5G solutions.
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