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Marvell Technology Group Ltd (MRVL.OQ)

MRVL.OQ on NASDAQ Stock Exchange Global Select Market

15.38USD
14 Dec 2018
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Latest Key Developments (Source: Significant Developments)

Marvell Technology Group Ltd reports third quarter results
Wednesday, 5 Dec 2018 

Dec 4 (Reuters) - Marvell Technology Group Ltd ::. REPORTS THIRD QUARTER OF FISCAL YEAR 2019 FINANCIAL RESULTS.Q3 NON-GAAP EARNINGS PER SHARE $0.33 FROM CONTINUING OPERATIONS.Q3 GAAP LOSS PER SHARE $0.08 FROM CONTINUING OPERATIONS.Q3 REVENUE $851 MILLION VERSUS REFINITIV IBES ESTIMATE OF $844 MILLION.Q3 EARNINGS PER SHARE ESTIMATE $0.32 -- REFINITIV IBES DATA.SEES Q4 2019 NON-GAAP EARNINGS PER SHARE $0.30 TO $0.34 FROM CONTINUING OPERATIONS.SEES Q4 2019 GAAP LOSS PER SHARE $0.01 TO $0.05 FROM CONTINUING OPERATIONS.EXPECT RENEWED REVENUE GROWTH FROM CAVIUM BUSINESS IN Q4.Q4 EARNINGS PER SHARE VIEW $0.33 -- REFINITIV IBES DATA.Q4 REVENUE IS EXPECTED TO BE $790 MILLION TO $830 MILLION.Q4 GAAP GROSS MARGIN IS EXPECTED TO BE APPROXIMATELY 46%.Q4 NON-GAAP GROSS MARGIN IS EXPECTED TO BE APPROXIMATELY 65%.  Full Article

Starboard Says Marvell Adversely Impacted By Concerns Around Cavium’s Growth Trajectory
Thursday, 25 Oct 2018 

Oct 24 (Reuters) - Starboard Value Lp::STARBOARD VALUE LP, IN PRESENTATION, SAYS "MARVELL’S SHARE PRICE HAS DECLINED SIGNIFICANTLY" SINCE RECENTLY CLOSING CAVIUM ACQUISITION.STARBOARD VALUE SAYS "MARVELL HAS BEEN ADVERSELY IMPACTED BY CONCERNS AROUND CAVIUM’S GROWTH TRAJECTORY AND THE POTENTIAL FOR FURTHER INVENTORY DESTOCKING".STARBOARD VALUE SAYS "FEARS RELATED TO MARVELL’S STORAGE END MARKET EXPOSURE HAVE ALSO CREATED AN OVERHANG ON THE STOCK".STARBOARD VALUE SAYS "CONCERNS AROUND TRADE, TARIFFS, AND A POTENTIAL CYCLICAL SLOWDOWN HAVE PRESSURED MARVELL AND THE BROADER SEMICONDUCTOR INDUSTRY".STARBOARD VALUE SAYS, IN STARBOARD'S VIEW, MARVELL'S NEW FINANCIAL PLAN ANNOUNCED AT ITS RECENT INVESTOR DAY "IS CONSERVATIVE".AS OF OCT. 22 - SEC FILING.STARBOARD VALUE LP HAD PREVIOUSLY REPORTED 5.2 PERCENT STAKE IN MARVELL TECHNOLOGY GROUP AS OF JULY 10.  Full Article

Mouser Electronics And Marvell Enter Global Distribution Agreement
Monday, 17 Sep 2018 

Sept 17 (Reuters) - Mouser Electronics ::MOUSER ELECTRONICS AND MARVELL ENTER GLOBAL DISTRIBUTION AGREEMENT.  Full Article

Marvell Announces Chinese Regulatory Approval For Cavium Acquisition
Thursday, 28 Jun 2018 

June 28 (Reuters) - Marvell Technology Group Ltd ::MARVELL TECHNOLOGY GROUP LTD. ANNOUNCES RECEIPT OF CHINESE REGULATORY APPROVAL FOR CAVIUM ACQUISITION.MARVELL TECHNOLOGY GROUP LTD - MARVELL CURRENTLY EXPECTS MERGER TO CLOSE IN JULY 2018.  Full Article

Marvell Technology Group Ltd. Announces Pricing Of Inaugural Public Offering Of Senior Notes
Thursday, 21 Jun 2018 

June 20 (Reuters) - Marvell Technology Group Ltd ::MARVELL TECHNOLOGY GROUP LTD. ANNOUNCES PRICING OF INAUGURAL PUBLIC OFFERING OF SENIOR NOTES.MARVELL TECHNOLOGY GROUP LTD - PRICED AN OFFERING OF $500 MILLION AGGREGATE PRINCIPAL AMOUNT OF 4.200% SENIOR NOTES DUE 2023.MARVELL TECHNOLOGY GROUP LTD - PRICED AN OFFERING OF $500 MILLION AGGREGATE PRINCIPAL AMOUNT OF 4.875% SENIOR NOTES DUE 2028.MARVELL TECHNOLOGY GROUP LTD - DEBT OFFERING IS SUBJECT TO CUSTOMARY CLOSING CONDITIONS AND IS EXPECTED TO CLOSE ON OR ABOUT JUNE 22.  Full Article

Marvell Technology Group Says On Dec 19, Plaintiff, Defendants Entered Into Written Settlement Agreement For Payment By Co Of $72.5 Mln
Saturday, 23 Dec 2017 

Dec 22 (Reuters) - Marvell Technology Group Ltd ::MARVELL TECHNOLOGY GROUP SAYS ON DEC 19, PLAINTIFF, DEFENDANTS ENTERED INTO WRITTEN SETTLEMENT AGREEMENT FOR PAYMENT BY CO OF $72.5 MILLION - SEC FILING.  Full Article

Marvell Technology Group Reports Q3 GAAP Earnings Per Share $0.30 From Continuing Operations
Wednesday, 29 Nov 2017 

Nov 28 (Reuters) - Marvell Technology Group Ltd :: REPORTS THIRD QUARTER OF FISCAL YEAR 2018 FINANCIAL RESULTS.Q3 NON-GAAP EARNINGS PER SHARE $0.34 FROM CONTINUING OPERATIONS.Q3 GAAP EARNINGS PER SHARE $0.30 FROM CONTINUING OPERATIONS.Q3 REVENUE $616 MILLION VERSUS I/B/E/S VIEW $613.3 MILLION.Q3 EARNINGS PER SHARE VIEW $0.33 -- THOMSON REUTERS I/B/E/S.SEES Q4 2018 NON-GAAP EARNINGS PER SHARE $0.29 TO $0.33 FROM CONTINUING OPERATIONS.SEES Q4 2018 GAAP EARNINGS PER SHARE $0.23 TO $0.29 FROM CONTINUING OPERATIONS.SEES Q4 2018 REVENUE $595 MILLION TO $625 MILLION.- SEES ‍Q4 2018 GAAP AND NON-GAAP GROSS MARGINS TO BE APPROXIMATELY 62%​.Q4 EARNINGS PER SHARE VIEW $0.27 -- THOMSON REUTERS I/B/E/S.Q4 REVENUE VIEW $590.2 MILLION -- THOMSON REUTERS I/B/E/S.- ‍TRANSACTION WITH CAVIUM IS EXPECTED TO CLOSE IN MID-CALENDAR 2018​.  Full Article

Marvell Technology says termination fee of $180 mln
Tuesday, 21 Nov 2017 

Nov 20 (Reuters) - Marvell Technology Group Ltd : :Marvell Technology says ‍merger agreement provides for termination fee of $180 million under certain conditions - SEC filing.  Full Article

Marvell and Cavium to combine creating an infrastructure solutions powerhouse
Monday, 20 Nov 2017 

Nov 20 (Reuters) - Cavium Inc :Marvell and Cavium to combine creating an infrastructure solutions powerhouse.Cavium Inc - deal expected to generate at least $150 to $175 million of annual run-rate synergies within 18 months post close.Cavium Inc - Marvell will pay Cavium shareholders $40.00 in cash and 2.1757 Marvell common shares for each share of Cavium common stock​ as per terms.Cavium Inc - ‍deal represents a transaction value of approximately $6 billion​.Cavium Inc - ‍Cavium shareholders are expected to own approximately 25 pct of combined company on a pro forma basis​ after deal close.Cavium Inc - ‍Marvell intends to fund cash consideration with a combination of cash on hand from combined companies and $1.75 billion in debt financing​.Cavium Inc - ‍transaction is not subject to any financing condition​.Cavium Inc - ‍Matt Murphy will lead combined company​.Cavium Inc - ‍deal significantly accretive to revenue growth, margins and non-GAAP EPS​.Cavium Inc - ‍Cavium's co-founder and CEO, Syed Ali, will continue with combined company as a strategic advisor and will join Marvell's board of directors​.Cavium Inc - deal ‍unanimously approved by boards of directors of Marvell Technology Group and Cavium​.Cavium Inc - ‍Syed Ali, along with 2 additional board members from Cavium's board, will join Marvell's board of directors effective upon deal​ close.Cavium Inc - ‍based on preliminary financial information, marvell expects revenue of $610 to $620 million​ for Q3.  Full Article

Marvell Technology in advanced talks to combine with Cavium - WSJ
Saturday, 4 Nov 2017 

Nov 3 (Reuters) - :Marvell Technology Group in advanced talks to combine with Cavium- WSJ, citing sources‍​.  Full Article