Marvell Technology, Inc. recently released its 10-Q report, detailing its financial performance and operational highlights for the period. Marvell is a leading supplier of data infrastructure semiconductor solutions, providing a portfolio of ethernet solutions, storage controllers, and interconnect products across various end markets, including data center, enterprise networking, and carrier infrastructure. The company operates in the United States, Argentina, China, India, Israel, Japan, Singapore, South Korea, Taiwan, and Vietnam.
In the 10-Q report, Marvell reported net revenue of $2.0 billion in the second quarter of fiscal 2026, marking a 58% increase compared to the same period in fiscal 2025. The growth was primarily driven by increases in sales from the data center end market by 69%, carrier infrastructure end market by 71%, enterprise networking end market by 28%, and consumer end market by 30%. Automotive/industrial end market sales remained relatively flat.
Additionally, Marvell announced the sale of its automotive ethernet business to Infineon Technologies AG for $2.5 billion in cash. The company expects to record a gain on the sale in the third quarter of fiscal 2026. Marvell also highlighted its government incentives and grants, emphasizing its commitment to delivering stockholder value through stock repurchase and dividend programs. During the six months ended August 2, 2025, Marvell repurchased 8.3 million shares of its common stock for $540.0 million, with $2.0 billion remaining available for future stock repurchases.
The company's cash and cash equivalents stood at $1.2 billion at August 2, 2025, reflecting an increase of $276.1 million from the previous balance at February 1, 2025. Marvell's accounts receivable were concentrated with five customers, representing 73% of gross accounts receivable at August 2, 2025. The company also noted that most of its sales are made to customers with operations located outside of the United States, primarily in Asia.
Marvell Technology, Inc. remains focused on managing risks related to its global operations, sales cycle, and securing capacity over the long term. The company continues to monitor and assess its critical accounting policies and estimates in light of the current macroeconomic environment, acknowledging the potential for increased judgment and variability in its estimates.
As a result of these announcements, the company's shares have moved -18.6% on the market, and are now trading at a price of $62.865. If you want to know more, read the company's complete 10-Q report here.
