Marvell Technology
ConvictionModerate
Fabless IP-and-silicon: designs chips (custom XPU/ASIC co-design, optical DSPs, Ethernet switches, DCI, storage/networking), outsources fab to TSMC; revenue from product sales plus NRE/engineering on multi-year custom-silicon programs. ~76% of revenue is data center (Q1 FY27).
Revenue
$2.418B Q1 FY27fact, qtr ended ~2 May 2026); $8.2B FY26 (fact, FY ended ~31 Jan 2026); ~$8.7B TTMRev growthfact
+28% YoY Q1 FY27+9% QoQ ; FY26 +40%+ YoY (factGross margin
58.9% non-GAAP / 52.1% GAAPfact, Q1 FY27) — non-GAAP GM compressing toward high-50s as custom-ASIC mix risesOp margin
35.0% non-GAAP / 14.0% GAAPfact, Q1 FY27); GAAP gap is heavy stock comp + acquisition amortizationCapex intensityfact
~6.4%in Q1 FY27 ($155.7M capex / $2.418B rev); ~4.8% TTM ($391M / $8.2B) — fabless, light capexMarket cap
~$242Bfact, mid-June 2026; ~875M sh × ~$276–330 pricePrice · 1-year trend
real · weekly$281+265% 1yUSD
52-week range
$63 – $311
52w lowas of 2026-06-25 · Yahoo Finance52w high
Across the boards
The thesis on this name
opportunityModerate
AI Compute Value-Chain
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position · longWeak
AI Compute Value-Chain
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comp
Nvidia — single-name conviction
Co-design + open-fabric supplier; with Broadcom ~95% of the custom-silicon co-design market. Switch silicon slips late — dates the NVLink m…
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Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range
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