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Market Information
−Removed: Our common shares are traded on the Nasdaq Global Select Market under the symbol “MRVL.” Shares of Marvell Technology Group Ltd.
+Added: Our shares of common stock are traded on the Nasdaq Global Select Market under the symbol “MRVL.” Shares of Marvell Technology Group Ltd.
(our prior parent company) began trading under the MRVL symbol on June 27, 2000, upon completion of an initial public offering.
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This performance graph shall not be deemed “filed” for purposes of Section 18 of the Exchange Act or incorporated by reference into any filings under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
−Removed: The graph below compares the cumulative total stockholder return of our common stock with the cumulative total return of the S&P 500 Index and the Philadelphia Semiconductor Index since January 28, 2017 through January 29, 2022.
−Removed: The graph compares a $100 investment on January 28, 2017 in our common stock with a $100 investment on January 28, 2017 in each index and assumes that any dividends were reinvested.
+Added: The graph below compares the cumulative total stockholder return of our common stock with the cumulative total return of the S&P 500 Index and the Philadelphia Semiconductor Index since February 3, 2018 through January 28, 2023.
+Added: The graph compares a $100 investment on February 3, 2018 in our common stock with a $100 investment on February 3, 2018 in each index and assumes that any dividends were reinvested.
Stockholder returns over the indicated periods should not be considered indicative of future stock prices or stockholder returns.
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and October 30, 2021.
−Removed: There were no sales of unregistered equity securities in the quarter ended January 29, 2022.
+Added: In fiscal 2023, on December 2, 2022, the Company acquired all the equity interests of a private company for cash and stock.
+Added: Pursuant to this transaction, 439,499 shares of Marvell common stock were issued, which shares are subject to forfeiture in some circumstances.
+Added: The shares of Marvell common stock were issued in a private placement pursuant to Rule 4(a)(2) of the Securities Act.
Issuer Purchases of Equity Securities
−Removed: The stock repurchase program was temporarily suspended in late March 2020 to preserve cash during the COVID-19 pandemic.
−Removed: We are focusing on reducing our debt and de-levering our balance sheet.
−Removed: As a result, we did not repurchase any shares of stock during the fiscal year ended January 29, 2022.
−Removed: We will continue to evaluate business conditions to decide when to restart the stock repurchase program.
−Removed: Although stock repurchases are temporarily suspended, we have $564.5 million of repurchase authority remaining under our current stock repurchase program.
−Removed: From August 2010 when our Board of Directors initially authorized a stock repurchase program through January 29, 2022, a total of 308.1 million shares have been repurchased under the Company’s stock repurchase program for a total $4.3 billion in cash and $564.5 million remains available for future stock repurchases.
+Added: We resumed our stock repurchase program in the first quarter of fiscal 2023, which had been temporarily suspended in fiscal 2021 to preserve cash during the COVID-19 pandemic.
+Added: We did not purchase any shares of our common stock for the three months ended January 28, 2023.
+Added: We have $449.5 million of repurchase authority remaining under our current share repurchase program.
Our stock repurchase program is subject to market conditions, legal restrictions and regulations, and other factors, and does not obligate the Company to repurchase any dollar amount or number of shares of its common stock and the repurchase program may be extended, modified, suspended or discontinued at any time.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.