0701 GMT - Marvell's sale of its automotive ethernet business to Infineon makes sense, JP Morgan analysts say in a research note. The transaction aligns with Marvell's strategic focus on artificial intelligence and accelerated computing, while reducing its investment in certain areas of its multi-markets portfolio, the analysts say. The auto business will continue to remain a small part of Marvell's overall business, especially as its data center business grows at a faster pace over the next few years, they say. The deal should boost the company's earnings power by $0.05 to $0.10 per share, assuming most of the proceeds are used for stock repurchase, JP Morgan says. (nina.kienle@wsj.com)
(END) Dow Jones Newswires
April 08, 2025 03:02 ET (07:02 GMT)
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