Key TakeawaysDemand for Marvell Technology's AI products soared in the fourth quarter, but the rest of the company's business stumbled.Sales at four of its five divisions declined in the period.The maker of integrated circuits gave first-quarter earnings and revenue guidance that missed estimates, and shares fell 7% Friday morning. Shares of Marvell Technology (MRVL) slipped 7% Friday, a day after the maker of integrated circuits posted a weaker-than-expected first-quarter outlook as soaring demand for arti ...

In making the selection, Optica notes that Dr. Nagarajan is "an insightful engineer and outstanding innovator and mentor" and mentions his "ability to move from concept to commercialization and deployment continues to have a profound impact" on the industry. Established in 1966, the Richardson Medal recognizes significant contributions to optical engineering, primarily in the commercial and industrial sector. It honors David Richardson's unique contributions to applied optics. "Congratulations to Radha on r ...

Marvell Technology (MRVL) reported impressive results for the fourth quarter of fiscal 2024, wherein revenues outpaced the Zacks Consensus Estimate while non-GAAP earnings matched the same. The chipmaker’s fourth-quarter revenues and earnings came in line with the midpoint of management’s guidance.Despite reporting decent fourth-quarter results, MRVL stock fell 7.7% during Thursday’s extended trading session as its guidance for the first-quarter fiscal 2025 top and bottom lines was weak.Let’s delve deeper i ...

Artificial intelligence (AI) is already driving solid growth for many companies involved in the proliferation of this technology, such as semiconductor companies whose chips are being deployed for AI training and inference applications. At the same time, there are many companies busy integrating AI into their products and services so that they can arm their customers with more productive tools and grow their businesses.Marvell Technology (MRVL 4.57%) and The Trade Desk (TTD -0.43%) are two companies that fi ...

Marvell Technology, Inc. (NASDAQ:MRVL) Q4 2024 Results Conference Call March 7, 2024 4:30 PM ET Company Participants Ashish Saran - Senior Vice President, Investor Relations Matt Murphy - President, CEO & Chairman Willem Meintjes - Chief Financial Officer Conference Call Participants Ross Seymore - Deutsche Bank Matt Ramsey - TD Cowen Christopher Rolland - Susquehanna Quinn Bolton - Needham & Company Harsh Kumar - Piper Sandler Vivek Arya - Bank of America Gary Mobley - Wells Fargo Harlan Sur - JPMorgan Tor ...

Marvell Technology (MRVL) reported $1.43 billion in revenue for the quarter ended January 2024, representing a year-over-year increase of 0.6%. EPS of $0.46 for the same period compares to $0.46 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $1.42 billion, representing a surprise of +0.52%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.46.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall S ...

Marvell Technology (MRVL) came out with quarterly earnings of $0.46 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.46 per share a year ago. These figures are adjusted for non-recurring items.A quarter ago, it was expected that this chipmaker would post earnings of $0.40 per share when it actually produced earnings of $0.41, delivering a surprise of 2.50%.Over the last four quarters, the company has surpassed consensus EPS estimates three times.Marvell, which belongs to ...

SANTA CLARA, Calif., March 7, 2024 /PRNewswire/ -- Marvell Technology, Inc. (NASDAQ: MRVL), a leader in data infrastructure semiconductor solutions, today announced that its Board of Directors has authorized a $3 billion addition to the balance of its existing stock repurchase program, increasing the total current repurchase authority to approximately $3.3 billion. This $3 billion increase is the largest repurchase authorization in our history. Marvell's existing share repurchase program had approximately $ ...

Marvell extends its longstanding partnership with TSMC to 2nm manufacturing. 2nm building blocks and foundational IP to boost the performance and efficiency of cloud-optimized silicon for accelerated infrastructure. Leadership in 2nm infrastructure silicon follows similar Marvell firsts in 5nm and 3nm. SANTA CLARA, Calif., March 7, 2024 /PRNewswire/ -- Marvell Technology, Inc. (NASDAQ: MRVL), a leader in data infrastructure semiconductor solutions, is extending its collaboration with TSMC to develop the ...

Exhibit 99.1 Marvell Technology, Inc. Reports Fourth Quarter and Fiscal Year 2024 Financial Results • Q4 Net Revenue: $1.427 billion, grew by 1% year-on-year • Q4 Gross Margin: 46.6% GAAP gross margin; 63.9% non-GAAP gross margin • Q4 Diluted income (loss) per share: $(0.45) GAAP diluted loss per share; $0.46 non-GAAP diluted income per share Santa Clara, Calif. (March 7, 2024) - Marvell Technology, Inc. (NASDAQ: MRVL), a leader in data infrastructure semiconductor solutions, today reported financial result ...