US-EU Index Rebalances / Quantitative Researcher, ORTEX

Dimitris Ioannidis

US-EU Index Rebalances / Quantitative Researcher

Global Financial Data and Analytics Platform

ORTEX

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

Index Rebalance

<ul>
<li>
<a href="https://www.smartkarma.com/entities/marvell-technology-inc" target="_blank" data-smartkarma-citation="entities:15837:1" rel="noopener">Marvell Technology (MRVL US)</a> became eligible at the last minute for S&amp;P500 inclusion in the December 2025 review, following positive Q3 earnings.</li>
<li>
<a href="https://www.smartkarma.com/entities/marvell-technology-inc" target="_blank" data-smartkarma-citation="entities:15837:1" rel="noopener">Marvell Technology (MRVL US)</a> experienced a significant turnaround in profitability in the last year, but its latest earnings are driven by non-operational activity.</li>
<li>The company's market cap and other eligibility metrics are estimated to place it among the top addition candidates for S&amp;P500 with a higher chance of inclusion in 2026.</li>
</ul>



Marvell Technology (MRVL US) became eligible at the last minute for S&amp;P500 inclusion in the December 2025 review, following positive Q3 earnings.

Marvell Technology (MRVL US) experienced a significant turnaround in profitability in the last year, but its latest earnings are driven by non-operational activity.
The company's market cap and other eligibility metrics are estimated to place it among the top addition candidates for S&amp;P500 with a higher chance of inclusion in 2026.


Marvell Technology (MRVL US): Heroic Earnings Unlock S&P500 Eligibility

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Marvell Technology Inc.'s second quarter of fiscal year 2026 demonstrated notable progress, with record revenue of $2.006 billion—an increase of 6% sequentially and 58% year-over-year.</li><li>The company's significant growth was fueled by the data center end market, which represented 74% of the total revenue and saw a 69% year-over-year increase, largely driven by strong AI demand.</li><li>This demonstrates the company's successful pivot to focus on data centers and AI, a strategy underscored by the recent divestiture of its automotive ethernet business for $2.5 billion, allowing for concentrated investments in the data center sector.</li></ul>

Marvell Technology Inc.'s second quarter of fiscal year 2026 demonstrated notable progress, with record revenue of $2.006 billion—an increase of 6% sequentially and 58% year-over-year.The company's significant growth was fueled by the data center end market, which represented 74% of the total revenue and saw a 69% year-over-year increase, largely driven by strong AI demand.This demonstrates the company's successful pivot to focus on data centers and AI, a strategy underscored by the recent divestiture of its automotive ethernet business for $2.5 billion, allowing for concentrated investments in the data center sector.

Marvell Technology in SoftBank’s Sights—Is a Mega AI Merger Coming?

Marvell Technology Sets Sights on 20% Market Share in Data Center Silicon; Is It Achievable?

Technology / Semiconductor / Internet Research

Nicolas Baratte

<ul>
<li>Marvell AI event yesterday, good efforts to explain its Data Center / Accelerators roadmap, growth opportunity: ~50% Cagr to 2028, a bit higher than TSMC (45%), lower than AMD (60%). </li>
<li>CEO suggests that data center revenues can increase 4.4x to 2028, total revenue to ~triple to CY28. That’s possible but Marvell’s fragility is margins and lower scalability than AMD, Nvidia.  </li>
<li>The nature of custom-designed ASICs is a lot of R&amp;D for a single customer. Marvell GAAP margins are thin and therefore a binary bet on operating leverage.</li>
</ul>


Marvell AI event yesterday, good efforts to explain its Data Center / Accelerators roadmap, growth opportunity: ~50% Cagr to 2028, a bit higher than TSMC (45%), lower than AMD (60%). 
CEO suggests that data center revenues can increase 4.4x to 2028, total revenue to ~triple to CY28. That’s possible but Marvell’s fragility is margins and lower scalability than AMD, Nvidia.  
The nature of custom-designed ASICs is a lot of R&amp;D for a single customer. Marvell GAAP margins are thin and therefore a binary bet on operating leverage.


Marvell Expects Hyper-Growth in Data Center Custom Chips (ASIC) With a Higher Earnings Risk

<ul><li>Marvell Technology Inc.'s first-quarter fiscal 2026 results reveal a mixed bag of impressive growth, strategic maneuvers, and cautious optimism amid ongoing global economic uncertainties.</li><li>The company achieved record revenues of $1.895 billion, reflecting a robust 63% year-over-year growth and surpassing the midpoint of their guidance.</li><li>This growth was primarily driven by the data center end market, which accounted for 76% of total revenue, fueled by heightened demand for AI-driven solutions.</li></ul>

Marvell Technology Inc.'s first-quarter fiscal 2026 results reveal a mixed bag of impressive growth, strategic maneuvers, and cautious optimism amid ongoing global economic uncertainties.The company achieved record revenues of $1.895 billion, reflecting a robust 63% year-over-year growth and surpassing the midpoint of their guidance.This growth was primarily driven by the data center end market, which accounted for 76% of total revenue, fueled by heightened demand for AI-driven solutions.

Marvell Technology: How Is The Management Leveraging AI & Data Center Market Growth?

United States

Marvell Technology, Inc. develops and produces semiconductors and related technology. The Company offers security and networking platform, secure data processing, networking, and storage solutions. Marvell Technology serves customers worldwide.

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Marvell Technology (MRVL US)