Marvell adds $5B to buyback, launches $1B accelerated share repurchase

Marvell Technology, Inc.

Board authorized $5B addition to existing stock repurchase program.
Entered $1B ASR agreement; expects initial delivery of ~10.7M shares on Sept 25.
Repurchased $300M in current quarter under regular program.
Prior authorization had $2B remaining as of Aug 2; total repurchase capacity now $7B.
CEO Murphy cites confidence in business; fireside chat with JP Morgan Sept 24.

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