MURPHY MATTHEW J sold $1.8M of MRVL

Marvell's $115B acquisition of Lumentum may increase orders for Taiwanese optical component makers, according to industry sources.

SK Hynix's U.S. subsidiary faces regulatory hurdles for a memory chip factory. Netflix launched an AI tool for content matching. TrendForce says Marvell's Lumentum acquisition may challenge Broadcom in AI optics. Meta is reportedly exploring a $20B debt package for operations and capital needs, according to Bloomberg.

Marvell Technology (MRVL) shares closed up 0.33% at $171.97 after a premarket drop tied to its $115 billion acquisition of Lumentum and analyst downgrades. Trading volume was 37.6 million shares, 67% above average. The S&P 500 and Nasdaq Composite also rose. Marvell raised its revenue outlook to $20 billion for FY2028 and $70-90 billion for FY2031, with Lumentum reporting a 137% YoY sales increase.

Lumentum (LITE) shares dropped 18.6% on November 2, 2026, following an all-stock acquisition agreement with Marvell Technology. Lumentum shareholders will receive 4.500 Marvell shares per Lumentum share, valuing the deal at $115 billion. Lumentum's Q4 2026 revenue grew 109.3% YoY, and its November 2 quarterly earnings were $4.57 per share, exceeding estimates. Both companies' shares fell after the announcement, with Marvell down 12.7%.

Marvell Technology (MRVL) agreed to acquire Lumentum (LITE) in an all-stock deal valued at $115B, the largest tech M&A transaction ever. The deal, expected to close by H1 2028, will see Marvell shareholders own 67% of the combined company. Both CEOs highlighted the strategic fit and potential for AI connectivity growth.

Marvell (MRVL) acquiring Lumentum (LITE) may prompt Ciena (CIEN) and Cisco (CSCO) to diversify suppliers, according to BofA analysts. The deal, expected to close in 2028, could impact optical component supply. Ciena and Cisco are major customers of Lumentum, with Ciena accounting for 15% of Lumentum's 2026 revenue.