Exhibit 99.1

Cavium

Announces Financial Results for Q4 2017

SAN JOSE, Calif., January 31, 2018 – Cavium, Inc. (NASDAQ: CAVM), a leading provider of semiconductor products that enable intelligent processing for enterprise, data center, cloud, wired and wireless networking, today announced financial results for the fourth quarter ended December 31, 2017. Due to the pending merger with Marvell Technology Group Ltd. (“Marvell”), the Company will not schedule an earnings conference call.

Net revenue in the fourth quarter of 2017 was $260.4 million, a 3.3% sequential increase from the $252.0 million reported in the third quarter of 2017 and 15.1% from the $226.2 million reported in the fourth quarter of 2016.

Generally Accepted Accounting Principles (GAAP) Results

Net loss for the fourth quarter of 2017 was $1.1 million, or ($0.02) per diluted share, compared to $6.2 million, or ($0.09) per diluted share in the third quarter of 2017. Gross margins were 53.9% in the fourth quarter of 2017 compared to 54.6% in the third quarter of 2017. As a percentage of revenue, GAAP loss from operations was 4.7% in the fourth quarter of 2017 compared to GAAP operating income of 0.2% in the third quarter of 2017. Total cash and cash equivalents were $140.5 million at December 31, 2017.

The GAAP results of operations in the fourth quarter of 2017 included an income tax benefit of $11.1 million as a result of the Company’s preliminary assessment of the impact of the newly enacted U.S. Tax Reform. On December 22, 2017, the United States enacted tax reform legislation through the Tax Cuts and Jobs Act (the “Act”), which significantly changes the existing U.S. tax laws. Major reforms in the legislation include a reduction in the corporate tax rate from 35.0% to 21.0%, and a move from a worldwide tax system to a territorial system. As a result of enactment of the legislation, the Company recognized a tax benefit mentioned above due to the reduction in its net long term deferred tax liabilities recorded on its consolidated balance sheet. Although the Company believes the amount of recognized tax benefit is a reasonable estimate of the income tax effects of the Act, it should be considered provisional and may differ from the amounts that will be reported in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 as the Company continuously refines its assessment of the impact. Further, the final assessment of the impact of the Act may differ due to and among other things, changes in interpretations, assumptions made by the Company, the issuance of additional guidance, and actions the Company may take as a result of tax reform. The SEC has issued rules which allow for a measurement period of up to one year after the enactment date of the Act to finalize the accounting for the related tax impacts. Any adjustments to these provisional amounts will be reported as a component of income tax expense or benefit in the reporting period in which any such adjustments are determined, which will be no later than the fourth quarter of 2018.

Non-GAAP Results

Cavium believes that the presentation of non-GAAP financial measures provides important supplemental information to management and investors regarding financial and business trends relating to Cavium’s financial condition and results of operations. Cavium believes that these non-GAAP financial measures provide additional insight into Cavium’s ongoing performance and core operational activities and has chosen to provide these measures for more consistent and meaningful comparison between periods. These measures should only be used to evaluate Cavium’s results of operations in conjunction with the corresponding GAAP measures. The Non-GAAP results exclude the effect of stock-based compensation and related payroll taxes, amortization of acquisition related assets, acquisition related inventory charges, acquisition and integration related costs, tax reform impact and acquisition related tax adjustment. The acquisition and integration related costs in the fourth quarter of 2017 included various transaction-related charges associated with the pending Merger with Marvell, primarily financial advisory and outside legal fees. The reconciliation between GAAP and non-GAAP financial results is provided in the financial statements portion of this release.

In the fourth quarter of 2017, Non-GAAP net income was $60.8 million, or $0.83 per diluted share, Non-GAAP gross margin was 65.2% and Non-GAAP income from operations as a percentage of revenue was 24.2%.

Recent News Highlights

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January 23, 2018 - Cavium FastLinQ® Enables Scalable Networking for HyperConverged Infrastructure

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December 5, 2017 - Cavium Partners with IBM for Next Generation Platforms by Joining OpenCAPI

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November 28, 2017 - Cavium FastLinQ® Delivers Advanced Networking I/O for HPE Gen 10 Servers

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November 20, 2017 - Marvell and Cavium to Combine Creating an Infrastructure Solutions Powerhouse

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November 14, 2017 - Microsemi Announces Adaptec Smart Storage Adapter Support for Cavium ThunderX2 ARM-Based CPUs

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November 13, 2017 - HPE Helps Businesses Capitalize on High Performance Computing and Artificial Intelligence Applications with New High-Density Compute and Storage

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November 13, 2017 - Cray Catapults Arm-Based Processors Into Supercomputing

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November 13, 2017 - GIGABYTE Announces Production Availability of Cavium's ThunderX2-based Server Portfolio

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November 13, 2017 - Ingrasys Announces Production Systems Based on Cavium's ThunderX2 Processor

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November 13, 2017 - Cavium and Leading Partners to Showcase ThunderX2™ Arm-based Server Platforms and FastLinQ® Ethernet Adapters for High Performance Computing at SC17

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November 8, 2017 - Cavium™ ThunderX2 Motherboard Specification for Microsoft's Project Olympus Contributed to the Open Compute Project

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November 7, 2017 - University of Michigan Partners with Cavium™ on Big Data Computing Platform for U-M Researchers

About Cavium

Cavium, Inc. (NASDAQ: CAVM), offers a broad portfolio of infrastructure solutions for compute, security, storage, switching, connectivity and baseband processing. Cavium’s highly integrated multi-core SoC products deliver software compatible solutions across low to high performance points enabling secure and intelligent functionality in Enterprise, Data Center and Service Provider Equipment. Cavium processors and solutions are supported by an extensive ecosystem of operating systems, tools, application stacks, hardware reference-designs and other products. Cavium is headquartered in San Jose, CA with design centers in California, Massachusetts, India, Israel, China and Taiwan. For further information, please visit the investor relations section of the Cavium web site at http://www.cavium.com.

CAVIUM, INC.

Unaudited GAAP Condensed Consolidated Statements of Operations

(in thousands, except per share amounts)

	Three Months Ended
	December 31, 2017			September 30, 2017
Net revenue	$	260,361		$	251,987
Cost of revenue		119,921			114,455
Gross profit		140,440			137,532
Operating expenses:
Research and development		98,610			93,860
Sales, general and administrative		53,963			43,184
Total operating expenses		152,573			137,044
Income (loss) from operations		(12,133	)		488
Other income (expense), net:
Interest expense		(6,468	)		(6,493	)
Other, net		75			277
Total other expense, net		(6,393	)		(6,216	)
Loss before income taxes		(18,526	)		(5,728	)
Provision for (benefit from) income taxes		(17,476	)		486
Net loss	$	(1,050	)	$	(6,214	)
Net loss per common share, basic and diluted	$	(0.02	)	$	(0.09	)
Shares used in computing basic and diluted net loss per common share		69,044			68,675

CAVIUM, INC.

Unaudited Reconciliation of Non-GAAP Adjustments

(in thousands, except per share data and percentages)

	Three Months Ended
	December 31, 2017			September 30, 2017
Reconciliation of GAAP gross profit and margin to non-GAAP:
Net revenue	$	260,361		$	251,987
GAAP gross profit		140,440			137,532
GAAP gross margin		53.9	%		54.6	%

Stock-based compensation and related payroll taxes		887			879
Inventory charges		543			(18	)
Amortization of acquisition related assets		27,947			27,947
Non-GAAP gross profit	$	169,817		$	166,340
Non-GAAP gross margin		65.2	%		66.0	%

Reconciliation of GAAP operating expenses to non-GAAP:
GAAP research and development expenses	$	98,610		$	93,860
Stock-based compensation and related payroll taxes		(16,647	)		(17,437	)
Amortization of acquisition related assets		(646	)		(725	)
Acquisition and integration related costs		(3,068	)		(743	)
Non-GAAP research and development expenses		78,249			74,955

GAAP sales, general and administrative expenses		53,963			43,184
Stock-based compensation and related payroll taxes		(8,909	)		(9,035	)
Amortization of acquisition related assets		(1,280	)		(1,278	)
Acquisition and integration related costs		(15,108	)		(3,997	)
Non-GAAP sales, general and administrative expenses		28,666			28,874
Total Non-GAAP operating expenses	$	106,915		$	103,829

Reconciliation of GAAP Income tax to non-GAAP:
GAAP provision for (benefit from) income tax	$	(17,476	)	$	486
Tax reform impact and acquisition related tax adjustment		13,232			-
Non-GAAP provision for (benefit from) income tax	$	(4,244	)	$	486

CAVIUM, INC.

Unaudited Reconciliation of Non-GAAP Adjustments

(in thousands, except per share data and percentages)

	Three Months Ended
	December 31, 2017			September 30, 2017
Reconciliation of GAAP income (loss) from operations to non-GAAP income from operations:
GAAP income (loss) from operations	$	(12,133	)	$	488
Stock-based compensation and related payroll taxes		26,443			27,351
Inventory charges		543			(18	)
Amortization of acquisition related assets		29,873			29,950
Acquisition and integration related costs		18,176			4,740
Non-GAAP income from operations	$	62,902		$	62,511
Non-GAAP income from operations as a percentage of revenue		24.2	%		24.8	%

Reconciliation of GAAP net loss to non-GAAP net income:
GAAP net loss	$	(1,050	)	$	(6,214	)
Non-GAAP adjustments:
Stock-based compensation and related payroll taxes		26,443			27,351
Inventory charges		543			(18	)
Amortization of acquisition related assets		29,873			29,950
Acquisition and integration related costs		18,176			4,740
Tax reform impact and acquisition related tax adjustment		(13,232	)		-
Total of non-GAAP adjustments		61,803			62,023
Non-GAAP net income	$	60,753		$	55,809

GAAP net loss per share, diluted	$	(0.02	)	$	(0.09	)
Non-GAAP adjustments detailed above		0.85			0.85
Non-GAAP net income per share, diluted	$	0.83		$	0.76

GAAP weighted average shares, diluted		69,044			68,675
Non-GAAP share adjustment		4,190			4,488
Non-GAAP weighted average shares, diluted		73,234			73,163

CAVIUM, INC.

Unaudited GAAP Condensed Consolidated Balance Sheets

(in thousands)

	As of
	December 31, 2017			September 30, 2017
Assets
Current assets
Cash and cash equivalents	$	140,498		$	152,654
Accounts receivable, net		230,143			186,447
Inventories		93,674			94,879
Prepaid expenses and other current assets		22,794			23,510
Total current assets		487,109			457,490
Property and equipment, net		192,515			169,747
Intangible assets, net		664,769			692,994
Goodwill		237,692			237,692
Other assets		7,240			5,757
Total assets	$	1,589,325		$	1,563,680

Liabilities and Stockholders' Equity
Current liabilities
Accounts payable	$	91,318		$	74,207
Accrued expenses and other current liabilities		38,753			44,898
Deferred revenue		9,236			9,501
Current portion of long-term debt		3,270			3,270
Capital lease and technology license obligations		31,435			27,803
Total current liabilities		174,012			159,679
Long-term debt		592,963			593,770
Capital lease and technology license obligations, net of current		15,370			15,025
Deferred tax liability		2,686			16,824
Other non-current liabilities		25,948			25,436
Total liabilities		810,979			810,734

Stockholders' equity
Common stock		69			69
Additional paid-in capital		1,183,819			1,157,386
Accumulated deficit		(406,352	)		(405,302	)
Accumulated other comprehensive income		810			793
Total stockholders' equity		778,346			752,946
Total liabilities and stockholders' equity	$	1,589,325		$	1,563,680

Cavium Contact:


Art Chadwick		Angel Atondo
Vice President of Finance and Administration and Chief Financial Officer		Senior Marketing Communications Manager
Tel: (408) 943-7104		Tel: (408) 943-7417
Email: art.chadwick@cavium.com		Email: angel.atondo@cavium.com

CAVIUM, INC. 8-K/A