What's Going On With Marvell Technology Stock On Wednesday?
Marvell Technology, Inc (NASDAQ:MRVL) on Wednesday announced the successful interoperability of the Marvell Structera portfolio of Compute Express Link (CXL) devices with Advanced Micro Devices, Inc (NASDAQ:AMD) EPYC CPUs and 5th Gen Intel Corp (NASDAQ:INTC) Intel Xeon platforms.
The move marks Marvell's progress towards an open and interoperable CXL ecosystem, which will address the growing demands for memory bandwidth and capacity in next-generation cloud data centers.
Marvell tapped AMD and Intel to extensively test Structera CXL products with AMD EPYC and 5th Gen Intel Xeon Scalable platforms across various configurations, workloads, and operating conditions.
Rising Tide Of AI Is So Strong That Semiconductor Optical Industry Projects $30 Billion Total Addressable Market By 2029
The results demonstrated seamless interoperability, delivering stability, scalability, and high-performance memory expansion that cloud data center providers need for mass deployment.
The first-quarter semiconductor earnings procession kicked off with ASML Holding (NASDAQ:ASML) last Wednesday and Taiwan Semiconductor Manufacturing Co (NYSE:TSM) on Thursday.
For U.S. chip vendors, BofA Securities analysts Vivek Arya and Duksan Jang expect first-quarter results to beat as their original outlook was likely conservative and tariff-related pull-ins created a better demand environment. However, the second-quarter outlook could be in line as companies could widen the guidance range.
Marvell stock plunged over 55% year-to-date. Marvell's exit from the auto space follows its October quarter restructuring, where it began shifting investments away from enterprise networking, carrier infrastructure, and automotive.
The company is now focused on AI and accelerated computing, a theme JPMorgan's Harlan Sur sees as key to unlocking long-term value.
Price Action: MRVL stock closed higher by 6.22% to $53.77 on Wednesday.
Read Next:Photo by JHVEPhoto via Shutterstock
Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market.
Get the latest stock analysis from Benzinga?
MARVELL TECH (MRVL): Free Stock Analysis Report
This article What's Going On With Marvell Technology Stock On Wednesday? originally appeared on Benzinga.com
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
15 minutes ago
- Yahoo
Cracker Barrel Q3 Restaurant Sales Sizzle, Ups Annual EBITDA Outlook
Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL), on Thursday, reported third-quarter adjusted earnings per share of 58 cents, beating the street view of 32 cents. Quarterly sales of $821.1 million, up 0.5% year over year (Y/Y), missed the analyst consensus estimate of $824.30 million. Restaurant sales accounted for 82.7% of the total revenue, whereas retail accounted for 17.3%. Comparable store restaurant sales increased 1.0% Y/Y, with menu pricing increases of 4.9%. Comparable store retail sales fell 3.8% Y/ EBITDA was $48.1 million, a 0.4% Y/Y increase. Adjusted EBITDA margin remained flat Y/Y at 5.9%. Cracker Barrel President and Chief Executive Officer Julie Masino said "Our third quarter performance exceeded our expectations and represents the fourth consecutive quarter of positive comparable store restaurant sales growth." As of the third quarter-end, cash and cash equivalent stood at $9.8 million. The company's quarterly dividend of 25 cents per share is payable on August 13 to shareholders of record as of July 18, 2025. Cracker Barrel reaffirmed the fiscal year 2025 total revenue outlook of $3.45 billion – $3.50 billion (estimate: $3.47 billion) and raised the adjusted EBITDA outlook to $215 million-$225 million versus the previous outlook of $210 million to $220 million. It expects commodity inflation in the mid 2% range, Hourly wage inflation in the mid 2%, and Capital expenditures of $160 million to $170 million (vs. previous outlook of $160 million to $180 million). Price Action: CBRL shares are trading lower by 3.08% to $55.99 at last check Thursday. Read Next:Photo by Jonathan Weiss via Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? CRACKER BARREL OLD (CBRL): Free Stock Analysis Report This article Cracker Barrel Q3 Restaurant Sales Sizzle, Ups Annual EBITDA Outlook originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Uber Taps Palo Alto Chief Nikesh Arora For Directorship
Uber Technologies (NYSE:UBER) disclosed on Thursday that it appointed Nikesh Arora to the Board of Directors on May 31. Ron Sugar, chair of the board, said Nikesh is a business leader with deep experience in technology, finance, and cybersecurity. Sugar said his leadership in scaling innovative businesses and navigating complex international markets will help Uber grow and 57, has served as the Chairman of the Board and CEO of Palo Alto Networks (NASDAQ:PANW) since June 2018. On June 2, Pierre-Dimitri Gore-Coty, senior vice president of delivery and one of its longest-serving executives, departed. Gore-Coty joined the company in 2012. Uber stock surged over 32% year-to-date. To boost growth, the company forged partnerships with companies such as May Mobility Inc. and Volkswagen Group. Uber named Andrew Macdonald, senior vice president of mobility and business operations, the COO. Last week, Future Fund LLC's managing director, Gary Black, said that Tesla Inc's (NASDAQ:TSLA) June 12 Robotaxi launch posed no significant threat to Uber. Price Action: UBER stock is up 0.56% at $83.92 at last check Thursday. Read Next:Photo by JHVEPhoto via Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? This article Uber Taps Palo Alto Chief Nikesh Arora For Directorship originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 hours ago
- Yahoo
Nvidia Retains Top Pick as AI Momentum Grows
Nvidia (NASDAQ:NVDA) remains a top sector pick after Bank of America's Vivek Arya returned from investor events in San Francisco with very positive feedback on AI demand, reaffirming his Buy rating and maintaining a $180 price target. Arya noted that Nvidia's Blackwell rack-scale systems now account for about 70% of compute sales, with Blackwell Ultra production slated to begin in Q2 alongside Rubin and Feynman on track, underscoring seamless generational transitions and limited ramp costs. Warning! GuruFocus has detected 4 Warning Signs with NVDA. He highlighted that the recent lifting of AI Diffusion export rules opens a sovereign AI growth vectorsovereign governments and CSPs are expected to build their own foundational models, expanding Nvidia's addressable market beyond hyperscalers. Addressing China-related risks, Arya emphasized that Nvidia considers its China AI exposure fully de-risked after H20 export restrictions, meaning any future sales into the $50 billion China AI TAM would be incremental upside, as current data center forecasts exclude China revenues. Management's guidance around Blackwell execution and the de-risked China outlook alleviates investor concerns that had restrained the stock over the past year. With the GB200 NVL systems fully ramping and strong cloud and enterprise interest, Nvidia's positioning in the ongoing AI wave appears reinforced even as macro uncertainties persist. Investors should care because these developments validate Nvidia's roadmap and could drive upside to consensus estimates, especially if sovereign commitments and China re-entry accelerate. Also, from the chart we can see that consensus estimates point to over a 20% bump from its current price. In fact, the GF value is at $273, which is an enormous upside from current levels. This article first appeared on GuruFocus. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
