Marvell Technologies

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SKU: MRVL Category:

Description

Marvell Technology managed to surpass Wall Street’s revenue and earnings expectations, achieving a commendable revenue of $1.42 billion, marking a 6% sequential growth above the midpoint of the provided guidance. The data center end market witnessed revenue of $556 million in the third quarter, surpassing expectations, mainly driven by robust AI revenue. Cloud revenue also displayed a return to year-over-year growth. Despite the anticipated decline in enterprise on-premise revenue, Marvell’s diverse product portfolio, including PAM4 optical products and Teralynx Ethernet switches, contributed to the broad-based growth. Marvell’s collaboration with NVIDIA underscores its crucial role in providing optical interconnect technology for generative AI. The 800-gig PAM electro-optic products are in high demand, tightly aligning with the deployment of AI accelerators. The management anticipates significant growth in its 1.6T 200-gig per Lane PAM platform, with customer qualifications underway. In the switching portfolio, Marvell is making strides with its next-generation 51.2T cloud switching platform, demonstrated at the OCP Global Summit. The enterprise networking end market faces weak demand, leading to a projected mid-single-digit sequential decline in the fourth quarter. Another highlight of the quarter is the merger between Marvell, F5 Networks, and Arm to create the inaugural practical application based on the OPI framework.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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