The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Marvell Technology (MRVL) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.Marvell Technology is one of 618 individual stocks in the Computer and Technology sector. Collectively, these companies ...

POLAND - 2024/11/26: In this photo illustration, the Marvell Technology Group company logo is seen ... [+] displayed on a smartphone screen. (Photo Illustration by Piotr Swat/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty ImagesMarvell Technology, a semiconductor company specializing in integrated circuits tailored for the data center space, saw its stock jump by 10% in Friday’s trading amid optimism about demand for the company’s custom AI chips. While Marvell stock is up by alm ...

As the old adage goes, past performance is no guarantee of future results.There's no denying that technology powerhouse Nvidia (NVDA -2.25%) has been the centerpiece of the artificial intelligence (AI) movement thus far.Its processors are the heart and soul of most data centers. Its stock has beaten the daylights out of the overall market since early 2023, when the artificial intelligence revolution reached its full stride. Shares are up more than 800% during this two-year span, versus the S&P 500's 58% adv ...

Company Performance - Marvell Technology's data center end-market growth accelerated in Q3'25, while its other four market segments experienced a sequential recovery, positioning the company strongly as it closes the quarter [1] Analyst Background - Michael Del Monte, a buy-side equity analyst with over 5 years of industry experience, takes a macro-value-oriented approach to investment analysis and specializes in cross-industry analysis [1] - Michael has a background in professional services, with experience in industries such as O&G, OFS, Midstream, Industrials, Information Technology, EPC Services, and consumer discretionary [1]

Investment Rating - The report maintains a "Buy" rating for Marvell Technology (MRVL NASDAQ) [4] Core Views - Marvell's data center business is the primary growth driver, with FY25Q3 revenue reaching $1 101 billion, up 98% YoY and 25% QoQ [3] - The company has entered a five-year agreement with Amazon, focusing on customized chips, optical module DSPs, AEC DSPs, and PCIe retimers [3] - Marvell has launched the industry's first 3nm single-channel 200G 1 6T optical module DSP chip [3] - The company expects data center business revenue to grow 20-25% QoQ in FY25Q4 [3] - Marvell maintains its AI revenue guidance for FY25 and FY26 at $1 5 billion and $2 5 billion respectively, with customized AI chips contributing $500 million and $1 billion [3] Financial Performance - FY25Q3 revenue reached $1 516 billion, up 6 9% YoY and 19 1% QoQ [2] - GAAP gross margin for FY25Q3 was 23 0%, while Non-GAAP gross margin stood at 60 5% [2] - FY25Q3 GAAP net loss was $676 million, with Non-GAAP net profit of $373 million [2] - FY25Q4 revenue guidance is $1 8 billion (±5%), representing 26 1% YoY growth and 18 7% QoQ growth [2] - FY25Q4 GAAP gross margin is expected to be 50%, with Non-GAAP gross margin projected at 60% [2] Business Segments - Enterprise networking revenue was $151 million, down 44% YoY and flat QoQ [3] - Carrier infrastructure revenue reached $85 million, down 73% YoY but up 12% QoQ [3] - Consumer revenue was $97 million, down 43% YoY but up 9% QoQ [3] - Automotive/Industrial revenue stood at $83 million, down 22% YoY but up 9% QoQ [3] Financial Projections - FY25-FY27 revenue is projected at $5 547 billion, $7 780 billion, and $8 869 billion respectively [4] - GAAP net profit is expected to be -$221 million, $145 million, and $314 million for FY25-FY27 [4] - Current stock price implies PS ratios of 15x, 11x, and 9x for FY25-FY27 revenue [4] Competitive Advantages - Marvell demonstrates strong competitiveness in optical module DSP and customized chip businesses [4] - The company's Ethernet switch chip products are expected to gain market traction [4] - Marvell is well-positioned to benefit from increasing demand for customized chips and AI Ethernet networking trends [4]

Key TakeawaysMarvell Technology shares led Nasdaq 100 stocks higher in the wake of strong fiscal third-quarter results released after the bell Tuesday.The chipmaker's fourth-quarter revenue forecast came in significantly higher than the analyst consensus estimate.Bank of America (BofA) analysts said Marvell Technology could post 20% to 25% long-term sales growth. Marvell Technology's (MRVL) stock rise topped all Nasdaq 100 gainers Wednesday after the chipmaker posted a current-quarterly forecast that signif ...

The chipmaker's CEO said management expects "substantial momentum to continue" in the next fiscal year.Shares of Marvell Technology (MRVL 23.19%) surged 23.2% on Wednesday following the data infrastructure semiconductor specialist's release on the prior afternoon of its report for the third quarter of its fiscal year 2025 (ended Nov. 2, 2024). Investors' positive reaction can be attributed to the quarter's revenue and earnings beating Wall Street's consensus estimates, and fourth-quarter guidance for both t ...

Revenue and Sales Performance - Net revenue for the three months ended November 2, 2024, was $1,516.1 million, compared to $1,418.6 million in the same period last year[9] - Net revenue for the three months ended November 2, 2024 was $1,516.1 million, with direct customers contributing $895.4 million (59%) and distributors contributing $620.7 million (41%)[29] - For the nine months ended November 2, 2024, net revenue was $3,949.9 million, with direct customers contributing $2,229.2 million (56%) and distributors contributing $1,720.7 million (44%)[29] - Net revenue in Q3 FY2025 was $1.5 billion, a 7% increase compared to Q3 FY2024, driven by a 98% increase in data center sales, partially offset by declines in carrier infrastructure (-73%), enterprise networking (-44%), consumer (-43%), and automotive/industrial (-22%) markets[117] - Net revenue for the three months ended November 2, 2024 increased by $97.5 million (7%) compared to the same period in 2023, driven by a 98% increase in data center sales due to strong AI demand[133] - Net revenue for the nine months ended November 2, 2024 decreased by $131.3 million (3%) compared to the same period in 2023, primarily due to declines in carrier infrastructure (74%), enterprise networking (53%), consumer (52%), and automotive/industrial (23%) markets[134] - Data center revenue for the three months ended November 2, 2024, was $1,101.1 million, representing 73% of total revenue, up from $555.8 million (39%) in the same period last year[27] - Revenue from enterprise networking decreased to $150.9 million (10% of total) in the three months ended November 2, 2024, from $271.1 million (19%) in the same period last year[27] - Revenue from the automotive/industrial sector was $82.9 million (5% of total) in the three months ended November 2, 2024, down from $106.5 million (8%) in the same period last year[27] - The United States contributed 17% ($256.0 million) of total revenue in the three months ended November 2, 2024, up from 15% ($217.1 million) in the same period last year[27] - China accounted for 43% of total revenue in the three months ended November 2, 2024, with $658.4 million, compared to 43% ($605.3 million) in the same period last year[27] - Sales to customers in Asia represented 74% and 75% of net revenue in Q3 and the nine months ended November 2, 2024, respectively, up from 66% and 68% in the same periods of FY2023[126] - Data center revenue for the nine months ended November 2, 2024, was $2,798.4 million, representing 71% of total revenue, compared to $1,451.4 million (36%) in 2023[26] - China accounted for 45% of total revenue ($1,774.8 million) for the nine months ended November 2, 2024, up from 41% ($1,690.3 million) in 2023[26] - Enterprise networking revenue for the nine months ended November 2, 2024, was $455.0 million (12% of total), down from $963.4 million (24%) in 2023[26] - Carrier infrastructure revenue for the nine months ended November 2, 2024, was $232.4 million, compared to $881.9 million (22% of total) in 2023[26] - Consumer revenue for the nine months ended November 2, 2024, was $227.4 million, down from $478.5 million (12% of total) in 2023[26] - Automotive/industrial revenue for the nine months ended November 2, 2024, was $236.7 million, compared to $306.0 million (6% of total) in 2023[26] - The United States accounted for 17% of total revenue ($675.4 million) for the nine months ended November 2, 2024, up from 15% ($607.2 million) in 2023[26] - Taiwan accounted for 7% of total revenue ($279.6 million) for the nine months ended November 2, 2024, up from 3% ($135.8 million) in 2023[26] Profit and Loss - Net loss for the three months ended November 2, 2024, was $676.3 million, compared to $164.3 million in the same period last year[9] - Gross profit for the three months ended November 2, 2024, was $349.4 million, down from $551.2 million in the same period last year[9] - Operating loss for the three months ended November 2, 2024, was $702.8 million, compared to $146.3 million in the same period last year[9] - Comprehensive loss for the three months ended November 2, 2024, was $676.2 million, compared to $164.7 million in the same period last year[12] - Net loss per share (diluted) for the three months ended November 2, 2024, was $0.78, compared to $0.19 in the same period last year[9] - Net loss for the quarter ending November 2, 2024, was $676.3 million[13] - Net loss for the nine months ended November 2, 2024, was $1,085.2 million, compared to $540.7 million for the same period in 2023[17] - Net loss for the quarter ending October 28, 2023, was $164.3 million[15] - Net loss for the nine months ended October 28, 2023 was $540.7 million[17] - Net loss for the three months ended November 2, 2024 was $676.1 million (44.6% of net revenue), compared to $163.1 million (11.5% of net revenue) in the same period in 2023[131] - The company reported a net loss of $676.3 million for the three months ended November 2, 2024, and $1,085.2 million for the nine months ended November 2, 2024[96] - Basic and diluted net loss per share were $(0.78) for the three months ended November 2, 2024, and $(1.25) for the nine months ended November 2, 2024[96] Assets and Liabilities - Total assets as of November 2, 2024, were $19,715.6 million, down from $21,228.5 million as of February 3, 2024[7] - Cash and cash equivalents decreased to $868.1 million as of November 2, 2024, from $950.8 million as of February 3, 2024[7] - Total current liabilities as of November 2, 2024, were $1,763.6 million, down from $1,814.2 million as of February 3, 2024[7] - Total stockholders' equity decreased to $13,372.9 million as of November 2, 2024[13] - Accumulated deficit increased to $1,257.5 million as of November 2, 2024[13] - Total stockholders' equity was $15,233.4 million as of October 28, 2023[15] - Total assets decreased from $21,228.5 million as of February 3, 2024 to $19,715.6 million as of November 2, 2024[7] - Total liabilities decreased from $6,397.1 million as of February 3, 2024 to $6,342.7 million as of November 2, 2024[7] - Cash and cash equivalents decreased from $950.8 million as of February 3, 2024 to $868.1 million as of November 2, 2024[7] - Accounts receivable decreased from $1,121.6 million as of February 3, 2024 to $997.9 million as of November 2, 2024[7] - Inventories decreased slightly from $864.4 million as of February 3, 2024 to $859.4 million as of November 2, 2024[7] - Total stockholders' equity decreased from $14,831.4 million as of February 3, 2024 to $13,372.9 million as of November 2, 2024[7] - Retained earnings as of October 28, 2023 decreased to $427.9 million from $1,123.5 million at the beginning of the year[15] - Inventories as of November 2, 2024, were $859.4 million, compared to $864.4 million as of February 3, 2024[100] - Property and equipment, net, as of November 2, 2024, were $781.9 million, compared to $756.0 million as of February 3, 2024[100] - Other non-current assets as of November 2, 2024, were $1,165.8 million, compared to $1,506.9 million as of February 3, 2024[100] - Accrued liabilities as of November 2, 2024, were $825.2 million, compared to $1,032.9 million as of February 3, 2024[102] - Other non-current liabilities as of November 2, 2024, were $613.6 million, compared to $524.3 million as of February 3, 2024[103] - Accumulated other comprehensive income (loss) as of November 2, 2024, was $(0.3) million, compared to $(1.4) million as of February 3, 2024[104] - The carrying value of goodwill as of November 2, 2024 was $11.6 billion[40] - Net carrying amounts of acquired intangible assets as of November 2, 2024 were $2,621.7 million for developed technologies, $741.6 million for customer contracts, and $14.7 million for trade names[41] - The fair value of the company's Level 1 assets, primarily marketable equity investments, is $9.3 million, while Level 2 assets, including time deposits and severance pay funds, total $49.8 million[48] - The carrying value of non-marketable equity investments is $49.4 million as of November 2, 2024, classified as Level 3 in the fair value hierarchy[50] - The estimated aggregate fair value of the company's unsecured senior notes is $3.4 billion as of November 2, 2024, classified as Level 2 in the fair value hierarchy[52] - Total outstanding debt as of November 2, 2024, is $4,123.3 million, with a net carrying amount of $4,094.9 million after adjusting for unamortized debt discount and issuance costs[54] - The 5-Year Tranche Loan under the 2024 and 2026 Term Loan Agreement has an outstanding principal of $623.4 million as of November 2, 2024, with an effective interest rate of 4.980%[57] - The 2023 Revolving Credit Facility has a borrowing capacity of $1.0 billion, with an unused commitment fee rate of 0.175% as of November 2, 2024[60] - The company issued $500.0 million in 5.750% Senior Notes due 2029 and $500.0 million in 5.950% Senior Notes due 2033 on September 18, 2023[63] - The company has $1.0 billion in borrowings outstanding from the 2029 and 2033 Senior Notes as of November 2, 2024[64] - The company has $2.0 billion in borrowings outstanding from the 2026, 2028, and 2031 Senior Notes as of November 2, 2024[67] - The company has $499.9 million in borrowings outstanding from the MTI 2028 Notes and MTG 2028 Notes as of November 2, 2024[73] - The company's aggregate future contractual maturities of outstanding debt as of November 2, 2024, total $4,123.3 million[76] - The company's total future unconditional purchase commitments as of November 2, 2024, are $1,743.4 million for foundries and test & assembly partners, and $390.3 million for technology license fees[79] - The company has agreed to purchase level commitments of at least $615.1 million of wafers, substrates, and other manufacturing products for the remainder of fiscal 2025 through fiscal 2033 under capacity reservation agreements[82] - The company has aggregate remaining fees of $268.5 million payable quarterly over a 10-year technology licensing agreement term[83] - The company reserved $50.0 million in relation to a contractual disagreement with a customer influenced by restructuring actions in the third quarter of fiscal 2025[85] - The company recognized approximately $198.0 million of charges for product-related claims, which were fully resolved in the fourth quarter of fiscal 2024[86] - The company's restructuring liability balance as of November 2, 2024, was $365.7 million, including $358.9 million for exit-related costs and $6.8 million for employee severance[37] - Restructuring liability includes $120.8 million in accrued liabilities and $8.0 million in accounts payable[39] - Goodwill carrying value as of November 2, 2024, and February 3, 2024, was $11.6 billion[40] - Net carrying amount of acquired intangible assets as of November 2, 2024, was $2,957.7 million, with $240.1 million impairment charges recognized[41] Expenses and Charges - Research and development expenses for the three months ended November 2, 2024, were $488.6 million, up from $481.1 million in the same period last year[9] - The company recognized $715.1 million in restructuring and related charges for the three and nine months ended November 2, 2024, including $159.0 million impairment of capitalized purchased technology licenses[34] - Restructuring charges included $240.1 million impairment of acquired intangible assets, $159.0 million impairment of purchased technology licenses, and $97.8 million related to future service payment obligations[34] - The company initiated a restructuring plan in fiscal 2025 to increase R&D investment in the data center end market and reduce investment in other end markets, resulting in asset impairment charges[33] - The company expects the Fiscal 2025 restructuring plan to be substantially completed by the end of fiscal 2026[34] - The current portion of the restructuring liability as of November 2, 2024 was $128.8 million, with $120.8 million included in accrued liabilities and $8.0 million in accounts payable[39] - Estimated future amortization expense of acquired intangible assets for the remainder of 2025 is $247.0 million, with total future amortization expenses reaching $2,621.7 million[45] - Amortization expense for acquired intangible assets was $264.9 million for the three months ended November 2, 2024 and $805.5 million for the nine months ended November 2, 2024[44] - The company recognized $715.1 million in restructuring charges for the three months ended November 2, 2024, primarily due to impairment of acquired intangible assets ($240.1 million) and purchased technology licenses ($159.0 million)[34] - Restructuring charges for the nine months ended November 2, 2024, totaled $723.2 million, including $240.1 million for impairment of acquired intangible assets and $159.0 million for purchased technology licenses[37] - The company's Fiscal 2025 Plan aims to increase R&D investment in the data center market and reduce investment in other end markets, resulting in $715.1 million in restructuring charges for the three months ended November 2, 2024[33] - Restructuring charges of $715.1 million were recognized in Q3 FY2025, primarily for impairment and write-offs of intangible assets, inventories, and property, as well as severance and other termination benefits[122] - Research and development expenses remained relatively flat at $488.6 million (32.2% of net revenue) for the three months ended November 2, 2024 compared to the same period in 2023[136] - Selling, general and administrative expenses decreased by $7.7 million to $205.3 million (13.6% of net revenue) for the three months ended November 2, 2024 compared to the same period in 2023[137][139] - Restructuring related charges increased significantly to $358.3 million (23.6% of net revenue) for the three months ended November 2, 2024, compared to $3.4 million in the same period in 2023[140] - Interest and other loss, net increased by $6.5 million to $47.7 million (3.1% of net revenue) for the three months ended November 2, 2024 compared to the same period in 2023, primarily due to exchange rate fluctuations[141] - The company recognized $45.6 million and $138.9 million in interest expense for the three and nine months ended November 2, 2024, respectively[75] - Depreciation and amortization for the nine months ended October 28, 2023 was $226.0 million[17] - Amortization of acquired intangible assets for the nine months ended October 28, 2023 was $811.6 million[17] - Amortization expense for acquired intangible assets for the three months ended November 2, 2024, was $264.9 million, and for the nine months, it was $805.5 million[44] - Estimated future amortization expense of acquired amortizable intangible assets as of November 2, 2024, is $2,621.7 million, with $247.0 million expected in the remainder of 2025[45] Cash Flow and Financing - Net cash provided by operating activities for the nine months ended November 2, 202

ToplineShares of Marvell Technology surged to a record high on Wednesday, as the semiconductor firm eclipsed a market capitalization of $100 billion for the first time after reporting better-than-expected earnings and an expanded deal with Amazon to collaborate on cloud software and hardware.The semiconductor firm announced a five-year deal with Amazon to collaborate on cloud software and ... [+] hardware.© 2024 Bloomberg Finance LP Key FactsMarvell’s shares jumped nearly 23% to just under $118 as of around ...

Shares of Marvell Technology (MRVL 24.13%) were surging today after the semiconductor maker posted better-than-expected results in its third-quarter earnings report, driven in part by strong AI demand and guidance.As of 1:03 p.m. ET, the stock was up 23.6% on the news. Marvell tops estimatesYear-over-year revenue growth remained modest at Marvell as it continues to work through an earlier slowdown in the chip sector, but the company still topped estimates.Revenue in the quarter was up 7% from a year ago, or ...