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SANTA CLARA - Marvell Technology, Inc. (NASDAQ:MRVL), a semiconductor company with a market capitalization of $62 billion and annual revenue of $6.5 billion, has appointed Rajiv Ramaswami, President and Chief Executive Officer of Nutanix, to its Board of Directors, effective Tuesday.
Ramaswami brings over 30 years of technology industry experience to the semiconductor company. He has led Nutanix, a cloud software provider, since 2020. His previous roles include Chief Operating Officer of Products and Cloud Services at VMware, along with senior leadership positions at Broadcom, Cisco, Nortel, Tellabs, and IBM.
"Rajiv is an accomplished technology executive with deep expertise spanning software, cloud services, network infrastructure, and semiconductors," said Matt Murphy, Marvell’s Chairman and CEO, in a press release statement.
Ramaswami holds a B.Tech in Electrical Engineering and Computer Science from the Indian Institute of Technology, Madras, and both M.S. and Ph.D. degrees in the same field from the University of California, Berkeley.
Marvell Technology provides semiconductor solutions for data infrastructure, serving enterprise, cloud, automotive, and carrier architecture markets.
In other recent news, Marvell’s financial outlook has been a focal point for several analyst firms. Stifel reiterated its Buy rating on Marvell with a price target of $80, reflecting confidence in the company’s growth prospects. Piper Sandler also maintained an Overweight rating, setting a price target of $85, citing Marvell’s promising XPU growth strategy. Meanwhile, TD Cowen kept its Buy rating with a $70 price target, highlighting Marvell’s potential in the AI sector, particularly after the company’s recent Custom AI Silicon virtual event. Goldman Sachs initiated coverage with a Neutral rating and a $75 price target, noting Marvell’s advancements in the networking solutions sector and recent customer wins. These developments underscore the varying levels of optimism among analysts regarding Marvell’s future performance.
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