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Marvell - 1 Matt Murphy - 1
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Santa Clara , California U.S Marvell
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Marvell Technology Group - 1 Marvell Technology - 1 Marvell - 1 Revenue - 1

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☆ Marvell shares fall as chipmaker forecasts downbeat first-quarter results on weak enterprise demand
  + stars: | 2024-03-07 | by ( ) www.cnbc.com   time to read: +1 min
The Marvell Technology Group Ltd. headquarters building stands in Santa Clara, California, U.S., on Tuesday, Feb. 8, 2011. Marvell Technology forecast first-quarter results below market expectations on Thursday, hurt by weak demand for its custom chips used in artificial intelligence applications, sending the company's shares down about 8% in extended trade. The company had flagged in November that it expects roughly half its revenue to decline in the first quarter, weighed down by weak demand in its wireless carrier and enterprise markets. The company forecast first-quarter adjusted earnings per share of 23 cents, plus or minus 5 cents, compared with estimates of 40 cents per share, according to LSEG data. The company reported fourth-quarter revenue of $1.43 billion, beating estimates of $1.42 billion, on the back of rapid adoption of artificial intelligence.
Persons: Marvell, Matt Murphy Organizations: Marvell Technology Group, Marvell Technology, Marvell, Revenue Locations: Santa Clara , California, U.S, Marvell
☆ U.S. chipmaker Marvell cutting some R&D roles in China - statement
  + stars: | 2022-10-27 | by ( Josh Horwitz | ) www.reuters.com   time to read: +2 min
"In China, we will focus our R&D investments on local customers and the China market," Stacey Keegan, vice president of Corporate Marketing at Marvell said in a written response to questions sent from Reuters. Domestic China media outlet iJiwei reported late on Wednesday, citing unnamed industry sources, that Marvell planned to lay off a large proportion of its research and development team in China. The company's move comes as chipmakers brace for slowing demand following a boom at the peak of a global chip shortage. read moreAmid the geopolitical tensions, a number of U.S.-based companies have scaled back ther R&D operations in China. In January, fellow U.S.-based chipmaker Micron Technology Inc (MU.O) shut down its its DRAM R&D center in Shanghai citing shifting investment priorities.
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