Marvell Technology Inc is a global semiconductor company that specializes in designing and manufacturing innovative solutions for data infrastructure. The company focuses on providing a wide range of products, including integrated circuits and system-on-chip solutions, that cater to applications in networking, storage, and processing. Marvell's technology enables efficient data transmission and storage, supporting various industries such as telecommunications, computing, and automotive. By leveraging advanced technologies, Marvell aims to drive the performance and efficiency of data centers and enterprise networks, while also contributing to the evolution of connected devices and smart technologies.
Networking chips designer Marvell Technology (NASDAQ: MRVL) beat Wall Street’s revenue expectations in Q3 CY2024, with sales up 6.9% year on year to $1.52 billion. On top of that, next quarter’s revenue guidance ($1.8 billion at the midpoint) was surprisingly good and 9.3% above what analysts were expecting. Its non-GAAP profit of $0.43 per share was 5.5% above analysts’ consensus estimates.
Marvell showcases 3nm 1.6 Tbps PAM4 interconnect platform with 200 Gbps electrical and optical interfaces, boosting AI server and networking performance.
Marvell Tech (MRVL) reports Q3 earnings on Tues. Stock up 86.35% YoY. Charts show strong bullish momentum, above key SMAs. Analysts see 17% upside with Buy rating and $93.88 PT.
Marvell Technology and AWS announced a 5-year expanded partnership to drive advancements in accelerated data solutions, with Marvell's semiconductor portfolio and AWS's EDA solutions.
Global markets faced turbulence by midday Wednesday as an unwinding of yen-dollar carry trades drove sharp losses in U.S. equities, with the tech-heavy Nasdaq 100 falling 1.2% in intraday trading.