Marvell Technology, Inc. has recently released its 10-Q report, providing an in-depth look into its financial condition and results of operations. Marvell Technology, Inc. is a leading supplier of data infrastructure semiconductor solutions, offering a portfolio of ethernet solutions, storage controllers, and interconnect products. The company operates in the United States, Argentina, China, India, Israel, Japan, Singapore, South Korea, Taiwan, and Vietnam.
In the 10-Q, Marvell Technology, Inc. reported net revenue of $2.0 billion in the second quarter of fiscal 2026, marking a 58% increase from the second quarter of fiscal 2025. The growth was primarily driven by increases in sales from the data center end market by 69%, from the carrier infrastructure end market by 71%, from the enterprise networking end market by 28%, and from the consumer end market by 30%. Sales from the automotive/industrial end market remained relatively flat compared to the second quarter of fiscal 2025.
Marvell Technology, Inc. also announced the sale of its automotive ethernet business to Infineon Technologies AG for $2.5 billion in cash. Following the completion of the sale, the company classified assets held for sale of $595.5 million, which included inventories, property and equipment, goodwill, acquired intangible assets, and other related assets. The company expects to record a gain on the sale in the third quarter of fiscal 2026.
Additionally, the report highlighted the company's government incentives and grants, noting that it continues to benefit from lower income tax rates in certain jurisdictions through statutory elections or agreements with governmental agencies. Marvell Technology, Inc. also emphasized its commitment to delivering stockholder value through its stock repurchase and dividend programs, having repurchased 8.3 million shares of its common stock for $540.0 million during the six months ended August 2, 2025. As of that date, $2.0 billion remained available for future stock repurchases.
The company's cash and cash equivalents were reported at $1.2 billion at August 2, 2025, representing a $276.1 million increase from the balance at February 1, 2025. Marvell Technology, Inc. also provided an overview of its sales and customer composition, with its accounts receivable concentrated with five customers at August 2, 2025, who represented a total of 73% of gross accounts receivable.
The 10-Q also addressed the company's global operations, its sales cycle, capacity reservation arrangements, and critical accounting policies and 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. For more information, read the company's full 10-Q submission here.
