Marvell Technology falls after report company in advanced talks to buy Lumentum

Lumentum Holdings

29/10/2026 08:38

** Shares of Marvell Technology MRVL.O down 9.5% at $227.64 premarket
** Company in advanced talks to buy data-center optics maker Lumentum Holdings LITE.O, with a deal potentially set to be announced as soon as next week, a source familiar with the matter told Reuters on Wednesday
** Marvell and Lumentum did not immediately respond to Reuters' requests for comment
** Shares of LITE, which has a market value of roughly $83 billion, up 4.8% following news of the discussion, first reported by Bloomberg News
** "Strategically, we think it would make sense for MRVL. Optical networking is getting significantly more important in AI, to speed up data transfers and reduce power consumption" - brokerage Piper Sandler
** As of last close, MRVL has nearly tripled YTD, while LITE has more than doubled

 (Reporting by Joel Jose in Bengaluru)
 ((joeljose@thomsonreuters.com))