Marvell Technology Group, Ltd. (MRVL) - NASDAQ
  • Wed, Jul. 20, 10:19 AM
    • Marvell Technology (MRVL +11) last night cruised past FQ4 EPS estimates, reporting $0.11 vs. $0.09 expected. Revenues came in light, falling 9% Q/Q.
    • Reiterating his Buy rating and $12.50 price target (vs. current $10.95), Brean Capital's Mike Burton blames the revenue miss on a big drop in the mobile and wireless business, from which Marvell plans to exit.
    • Storage showed 12% sequential growth, backed by better demand from HDD customers and seasonality. Networking grew 8% thanks to broad-based demand across all products.
    • While management indicated revenues could decline in the April quarter, cost cuts and margin expansion should boost gross margins and opex trends similar to what semiconductor peers are showing, says Burton.
    | Wed, Jul. 20, 10:19 AM | 6 Comments
  • Tue, Jul. 19, 4:06 PM
    • Marvell Technology Group (NASDAQ:MRVL): FQ4 EPS of $0.11 beats by $0.02.
    • Revenue of $616M (-28.2% Y/Y) misses by $36.65M.
    • Shares -0.01%.
    • Press Release
    | Tue, Jul. 19, 4:06 PM
  • Mon, Jul. 18, 5:35 PM
    | Mon, Jul. 18, 5:35 PM | 1 Comment
  • Mon, Jun. 20, 4:46 PM
    • Matthew Murphy will take over as CEO of MRVL and join the board, effective July 11. He comes over from Maxim Integrated where he spent 22 years, most recently as EVP Business Units, Sales & Marketing.
    | Mon, Jun. 20, 4:46 PM
  • Fri, Jun. 10, 11:57 AM
    • Marvell (MRVL -5%) has determined it won't be able to file its FQ1 (April quarter) 10-Q in time due to its prior audit committee investigation, as well as PwC's Oct. 2015 resignation as the company's auditor (it was replaced by Deloitte).
    • The company also forecasts FQ1 revenue will be "substantially" below year-ago levels, thanks to lower hard drive controller sales and the restructuring of Marvell's mobile baseband processor business. However, the FQ1 revenue consensus already implies a 23% Y/Y drop.
    • The news comes two months after Marvell filed to delay the posting of its FY16 10-K.
    | Fri, Jun. 10, 11:57 AM
  • Mon, Jun. 6, 4:38 PM
    • Andy Micallef, formerly the SVP of operations for analog/mixed-signal chipmaker Intersil (NASDAQ:ISIL), has been named Marvell's (NASDAQ:MRVL) COO. He'll be "responsible for driving Marvell's operations related to chip production and management of vendors and process partners."
    • Micallef has also held operational roles at voice processor developer Audience and storage hardware/chip developer LSI. His hiring follows the resignations of Marvell's CEO and president, as well as its appointment of a new chairman backed by activist Starboard Value.
    • Intersil has named Sunny Gupta, formerly the company's VP of Quality and Technology Development, its new operations chief.
    | Mon, Jun. 6, 4:38 PM
  • Thu, May 19, 10:09 AM
    | Thu, May 19, 10:09 AM
  • Wed, May 18, 4:23 PM
    • Marvell Technology Group (NASDAQ:MRVL) declares $0.06/share quarterly dividend, in line with previous.
    • Forward yield 2.45%
    • Payable July 12; for shareholders of record June 14; ex-div June 10.
    | Wed, May 18, 4:23 PM
  • Mon, May 2, 6:46 PM
    • Richard S. Hill, one of the four directors added to Marvell's (NASDAQ:MRVL) board as part of a recently-announced deal with activist Starboard Value, has been named chairman. He replaces co-founder Sehat Sutardja, who stepped down as CEO last month.
    • Hill already serves as the chairman of chip packaging IP firm Tessera Technologies, and was briefly its interim CEO in 2013. Starboard's involvement with Marvell has fueled hopes the company will put itself on the block.
    | Mon, May 2, 6:46 PM
  • Wed, Apr. 27, 10:30 AM
    • On a morning in which Yahoo also announced a deal with the activist investor, Marvell (MRVL +1.1%) says it has agreed to add four new board members - Starboard managing member Peter A. Feld, Tessera Technologies chairman Richard S. Hill, former International Rectifier CEO Oleg Khaykin, and Micron chairman Robert Switz - as part of an agreement with Starboard Value.
    • Starboard, which owns a 6.5% stake, will also designate "an additional independent director to be added to the Marvell Board as soon as practical, subject to the reasonable approval of the Board." After the shakeup, the board will have nine members.
    • As one would expect, Starboard has agreed to back the board slate and agree to other standstill provisions. The board will elect a non-executive chairman from its independent members.
    • The shakeup follows the resignations of Marvell's founding couple, CEO Sehat Sutardja and President Weili Dai; a search has begun to find a new CEO. The NY Post reported in March Marvell, which has been seeing strong top-line pressures and undergoing a restructuring of its mobile chip ops, is open to a sale.
    | Wed, Apr. 27, 10:30 AM | 1 Comment
  • Tue, Apr. 5, 12:45 PM
    | Tue, Apr. 5, 12:45 PM | 10 Comments
  • Tue, Apr. 5, 9:16 AM
    | Tue, Apr. 5, 9:16 AM
  • Fri, Apr. 1, 9:44 AM
    • Marvell (NASDAQ:MRVL) shares are -4.3% early on after it filed to delay its 10-K and said yesterday it expected significantly lower revenue for 2015.
    • FBR: "While the late filing was expected given that Marvell has yet to report earnings for fiscal 2Q16b 4Q16, we do not have a sense of how much "significantly lower" revenues will be.
    • "However, we note that the Street's estimate is already down by 25% Y/Y.
    • "The filing comes just weeks after we noted positive actions the company had taken to restore confidence by completing its audit committee investigation, which identified no fraudulent activity, and settling its lawsuit with Carnegie Mellon University.
    • "While delisting remains a possibility, we believe Marvell will be able to file quarterly reports in a timely manner now that the audit investigation is complete."
    • Now read Marvell: Recovery Underway, But Not A Buy Yet »
    | Fri, Apr. 1, 9:44 AM
  • Thu, Mar. 31, 5:40 PM
    • Top gainers, as of 5.25 p.m.: URBN +4.0%. HMY +2.9%. DEG +2.1%. KGC +1.5%. SBS +1.5%.
    • Top losers, as of 5.25p.m.: GNCA -10.1%. MAR -4.8%. HOT -4.5%. MRVL -3.5%. PRMW -3.4%.
    | Thu, Mar. 31, 5:40 PM
  • Wed, Mar. 16, 4:38 PM
    • Marvell Technology Group (NASDAQ:MRVL) declares $0.06/share quarterly dividend, in line with previous.
    • Forward yield 2.34%
    • Payable April 22; for shareholders of record March 29; ex-div March 24.
    | Wed, Mar. 16, 4:38 PM
  • Thu, Mar. 10, 6:44 PM
    • "Marvell's (NASDAQ:MRVL) policy is not to comment on rumors or speculation, but because this particular rumor has the potential to be disruptive to Marvell's business, Marvell is confirming that it has not been and is not engaged in discussions with Avago with respect to any possible offer to acquire Marvell." (Press Release)
    • Notably, Marvell doesn't go as far as to say it isn't looking to sell itself. The NY Post reported last weekend Marvell is now open to a sale, and speculated Avago, now known as Broadcom (NASDAQ:AVGO), could buy the company. Light Reading reported last summer Avago is looking to bid for Marvell once it's done acquiring Broadcom.
    • MRVL -0.8% after hours to $9.92.
    | Thu, Mar. 10, 6:44 PM
Company Description
Marvell Technology Group Ltd. engages in the business of providing semiconductors to high-performance application-specific standard products. The company focuses on the development of complex System-on-a-Chip devices leveraging extensive technology portfolio of intellectual property in the areas... More
Sector: Technology
Industry: Semiconductor - Integrated Circuits
Country: United States