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Marvell Technology Group Ltd (MRVL.OQ)

MRVL.OQ on NASDAQ Stock Exchange Global Select Market

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Latest Key Developments (Source: Significant Developments)

Marvell Technology Group Says On June 13, 2018, Co Entered Into A Credit Agreement
Wednesday, 13 Jun 2018 07:34am EDT 

June 13 (Reuters) - Marvell Technology Group Ltd ::MARVELL TECHNOLOGY GROUP LTD - ON JUNE 13, 2018, CO ENTERED INTO A CREDIT AGREEMENT - SEC FILING.MARVELL TECHNOLOGY GROUP LTD - CREDIT AGREEMENT PROVIDES FOR BORROWINGS OF UP TO $500 MILLION IN FORM OF REVOLVING LOANS.MARVELL TECHNOLOGY GROUP LTD - CREDIT AGREEMENT ALSO PROVIDES FOR BORROWINGS OF UP TO $900 MILLION IN FORM OF TERM LOANS.MARVELL TECHNOLOGY - PROCEEDS OF TERM LOANS TO BE USED TO FINANCE PORTION OF CASH FOR CAVIUM ACQUISITION, REFINANCE SOME CAVIUM’S DEBT, OTHERS.  Full Article

Marvell Technology Group Reports Q1 Adj Earnings Per Share $0.32
Thursday, 31 May 2018 04:05pm EDT 

May 31 (Reuters) - Marvell Technology Group Ltd ::REPORTS FIRST QUARTER OF FISCAL YEAR 2019 FINANCIAL RESULTS.Q1 NON-GAAP EARNINGS PER SHARE $0.32 FROM CONTINUING OPERATIONS.Q1 GAAP EARNINGS PER SHARE $0.25 FROM CONTINUING OPERATIONS.Q1 REVENUE $605 MILLION VERSUS I/B/E/S VIEW $602 MILLION.Q1 EARNINGS PER SHARE VIEW $0.31 -- THOMSON REUTERS I/B/E/S.SEES Q2 2019 NON-GAAP EARNINGS PER SHARE $0.32 TO $0.36 FROM CONTINUING OPERATIONS.SEES Q2 2019 GAAP EARNINGS PER SHARE $0.22 TO $0.26 FROM CONTINUING OPERATIONS.SAYS Q2 NON-GAAP DILUTED EPS FROM CONTINUING OPERATIONS IS EXPECTED TO BE IN RANGE OF $0.32 TO $0.36 PER SHARE.SAYS Q2 REVENUE IS EXPECTED TO BE $600 MILLION TO $630 MILLION.Q2 EARNINGS PER SHARE VIEW $0.33, REVENUE VIEW $621.0 MILLION -- THOMSON REUTERS I/B/E/S.  Full Article

Marvell Technology Group Reports Completion Of CFIUS Review
Thursday, 24 May 2018 04:05pm EDT 

May 24 (Reuters) - Marvell Technology Group Ltd ::ANNOUNCES COMPLETION OF CFIUS REVIEW.CFIUS REVIEW DETERMINED THAT THERE ARE NO UNRESOLVED NATIONAL SECURITY CONCERNS WITH RESPECT TO MERGER.MARVELL CONTINUES TO EXPECT MERGER WITH CAVIUM TO CLOSE MID-CALENDAR YEAR OF 2018.  Full Article

Cavium Says Collaborating With Microsemi Corp, Marvell To Demonstrate Reference Architecture For Accelerating, Scaling Out NVMe Over Fabrics
Monday, 19 Mar 2018 08:00am EDT 

March 19 (Reuters) - Cavium Inc ::CAVIUM INC - COLLABORATING WITH MICROSEMI CORPORATION, MARVELL TO DEMONSTRATE REFERENCE ARCHITECTURE FOR ACCELERATING, SCALING OUT NVME OVER FABRICS.  Full Article

Marvell Shareholders Approve Issuance Of Common Shares In Connection With Proposed Acquisition Of Cavium
Friday, 16 Mar 2018 04:46pm EDT 

March 16 (Reuters) - Cavium Inc ::MARVELL SHAREHOLDERS APPROVE ISSUANCE OF COMMON SHARES IN CONNECTION WITH PROPOSED ACQUISITION OF CAVIUM, INC..MARVELL- IN PRELIMINARY COUNT OF VOTING RESULTS, MORE THAN 99% VOTED IN FAVOR OF APPROVING ISSUANCE OF CO'S SHARES RELATED TO PROPOSED DEAL.MARVELL TECHNOLOGY GROUP SAYS EXPECTS TRANSACTION TO CLOSE MID-CALENDAR YEAR 2018.  Full Article

Marvell Technology Q4 Non-Gaap EPS $0.32 From Continuing Operations
Thursday, 8 Mar 2018 04:05pm EST 

March 8 (Reuters) - Marvell Technology Group Ltd ::REPORTS FOURTH QUARTER AND FISCAL YEAR 2018 FINANCIAL RESULTS.Q4 NON-GAAP EARNINGS PER SHARE $0.32 FROM CONTINUING OPERATIONS.Q4 GAAP EARNINGS PER SHARE $0.10 FROM CONTINUING OPERATIONS.Q4 REVENUE $615 MILLION VERSUS I/B/E/S VIEW $611 MILLION.SEES Q1 2019 NON-GAAP EARNINGS PER SHARE $0.29 TO $0.33 FROM CONTINUING OPERATIONS.SEES Q1 2019 GAAP EARNINGS PER SHARE $0.22 TO $0.26 FROM CONTINUING OPERATIONS.Q4 EARNINGS PER SHARE VIEW $0.31 -- THOMSON REUTERS I/B/E/S.SEES ‍Q1 REVENUE TO BE $585 MILLION TO $615 MILLION​.Q1 GAAP AND NON-GAAP GROSS MARGINS ARE EXPECTED TO BE APPROXIMATELY 62% TO 63%.Q1 REVENUE VIEW $590.8 MILLION -- THOMSON REUTERS I/B/E/S.Q1 EARNINGS PER SHARE VIEW $0.29 -- THOMSON REUTERS I/B/E/S.  Full Article

Marvell Technology Group Says On Dec 19, Plaintiff, Defendants Entered Into Written Settlement Agreement For Payment By Co Of $72.5 Mln
Friday, 22 Dec 2017 05:00pm EST 

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
Tuesday, 28 Nov 2017 04:05pm EST 

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
Monday, 20 Nov 2017 05:41pm EST 

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 07:00am EST 

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