Marvell Technology (MRVL) Unveils Multiple Products at OFC-2024

Marvell Technology MRVL recently launched a range of products, such as  Nova 2, 3D SiPho Engine, Spica Gen2-T and COLORZ 800, at the Optical Fiber Communication Conference and Exhibition, 2024 (OFC-2024).

Marvell’s Nova 2 will address the growing demand for generative AI and high-end computing needed in data centers, telecommunications and cloud computing verticals.

Nova 2 features 1.6 Tbps pulse amplitude modulation 4 optical digital signal processor (DSP) with 200 Gbps electrical and optical interfaces.

Marvell Technology, Inc. Price and Consensus

Marvell Technology, Inc. Price and Consensus

Marvell Technology, Inc. price-consensus-chart | Marvell Technology, Inc. Quote

Marvell Technology’s 3D SiPho Engine, launched at the OFC-2024 in San Diego, CA, uses silicon photonics technology and is designed for applications like AI clusters. This engine provides double the bandwidth and input/output density compared with similar devices with 100 Gbps electrical and optical interfaces. Additionally, it consumes 30% less power per bit.

MRVL also introduced Spica Gen2-T and COLORZ 800. While Spica Gen2-T is a new category of optical DSP, COLORZ 800 is a Probabilistic Constellation Shaping (PCS), which extends the reach of coherent DSP modules. The COLORZ 800 is connected to a Teralynx 10 switch operating in PCS mode, which increases its range to 1,000 km.

MRVL Benefits From a Strong Portfolio

To keep a competitive advantage, the company has been strategically investing in technology and gaining expertise through acquisitions. It has been gaining from the shipment of 400-gig DCI products in high volume.

Marvell Technology shows potential as a significant contender in the solid-state drive controllers market. The storage sector is witnessing a consistent rise in demand due to the rapid expansion of data volume, particularly the exponential surge in unstructured data.

The Teralynx product line that will be powering MRVL’s new COLORZ 800 is also witnessing considerable demand for its data center switching functionality. Teralynx was added to Marvell Technology’s portfolio from its acquisition of Innovium.

Nevertheless, as consumer spending weakens due to cynicism about global economic health, the company's sales in the Consumer segment are expected to suffer. Enterprises are delaying their big IT spending initiatives due to economic uncertainties, which will likely affect the company's performance in the short run.

Zacks Rank and Stocks to Consider

Currently, Marvell Technology carries a Zacks Rank #4 (Sell). Shares of MRVL have surged 68.8% in the past year.

Some better-ranked stocks from the broader technology sector are BlackLine BL, Arista Networks ANET and Dell Technologies DELL, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The Zacks Consensus Estimate for BlackLine’s first-quarter 2024 earnings has remained unchanged at 47 cents per share for the past 90 days. Shares of BL have gained 2% in the past year.

The Zacks Consensus Estimate for Arista Network’s first-quarter 2024 earnings has been revised by 4 cents northward to $1.71 per share in the past 60 days. Shares of ANET have rallied 82.7% in the past year.

The Zacks Consensus Estimate for DELL’s first-quarter 2024 earnings has been revised downward by 5 cents to $1.35 per share in the past seven days. Shares of DELL have skyrocketed 199.3% in the past year.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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