FMR LLC & Abigail Johnson Maintain 14.999% Stake in Marvell Tech

Ticker: MRVL · Form: SC 13G/A · Filed: 2024-02-09T00:00:00.000Z

Sentiment: bullish

Topics: institutional-ownership, amendment, semiconductors

TL;DR

**FMR LLC and Abigail Johnson still own nearly 15% of Marvell Technology, showing strong conviction.**

AI Summary

FMR LLC, a major investment firm, and its principal owner, Abigail P. Johnson, have filed an amended SC 13G/A for Marvell Technology, Inc. (MRVL). As of February 9, 2024, they collectively beneficially own 129,672,217 shares of common stock, representing 14.999% of the company. This filing indicates a significant, stable institutional holding in Marvell Technology, suggesting continued confidence from a large investor.

Why It Matters

This filing confirms a substantial, long-term institutional investment in Marvell Technology, which can provide stability and investor confidence for current and prospective shareholders.

Risk Assessment

Risk Level: low — This filing indicates a stable, significant institutional ownership, which generally reduces volatility and provides a vote of confidence in the company.

Analyst Insight

A smart investor would view this as a positive signal, indicating that a major institutional investor with a long-term horizon continues to see value in Marvell Technology. This could reinforce a decision to hold or consider buying shares, especially if aligned with the investor's own research.

Key Numbers

129,672,217 — Shares Beneficially Owned (Represents the total number of Marvell Technology shares held by FMR LLC and Abigail P. Johnson as of the filing date.)
14.999% — Percent of Class (Indicates the significant portion of Marvell Technology's common stock controlled by these reporting persons.)

Key Players & Entities

FMR LLC (company) — reporting person and parent holding company
Marvell Technology, Inc. (company) — issuer of the common stock
Abigail P. Johnson (person) — reporting person, principal owner of FMR LLC
129,672,217 (dollar_amount) — total shares beneficially owned by FMR LLC and Abigail P. Johnson
14.999% (dollar_amount) — percentage of Marvell Technology's common stock owned

Forward-Looking Statements

FMR LLC will maintain a significant ownership stake in Marvell Technology, Inc. for the foreseeable future. (FMR LLC) — high confidence, target: 2025-02-09

FAQ

Who are the primary reporting persons in this SC 13G/A filing for Marvell Technology, Inc.?

The primary reporting persons are FMR LLC and Abigail P. Johnson, as stated in Item 1 of the filing.

What percentage of Marvell Technology, Inc.'s common stock do FMR LLC and Abigail P. Johnson collectively own?

FMR LLC and Abigail P. Johnson collectively own 14.999% of Marvell Technology, Inc.'s common stock, as indicated in Item 11 for both reporting persons and Item 4(b) for FMR LLC.

How many shares of Marvell Technology, Inc. common stock are beneficially owned by FMR LLC and Abigail P. Johnson?

They beneficially own 129,672,217 shares of Marvell Technology, Inc. common stock, as reported in Item 7 for both FMR LLC and Abigail P. Johnson, and Item 4(a) for FMR LLC.

What is the CUSIP number for Marvell Technology, Inc. common stock mentioned in this filing?

The CUSIP number for Marvell Technology, Inc. common stock is 573874104, as stated in Item 2(e).

Under which rule is this Schedule 13G/A filed?

This Schedule 13G/A is filed pursuant to Rule 13d-1(b), as indicated by the checked box in the filing and Item 3.

From the Filing

0000315066-24-001263.txt : 20240209 0000315066-24-001263.hdr.sgml : 20240209 20240209091605 ACCESSION NUMBER: 0000315066-24-001263 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240209 DATE AS OF CHANGE: 20240209 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Marvell Technology, Inc. CENTRAL INDEX KEY: 0001835632 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 853971597 STATE OF INCORPORATION: DE FISCAL YEAR END: 0203 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-92526 FILM NUMBER: 24611751 BUSINESS ADDRESS: STREET 1: 1000 N. WEST STREET STREET 2: SUITE 1200 CITY: WILMINGTON STATE: DE ZIP: 19801 BUSINESS PHONE: (302) 295-4840 MAIL ADDRESS: STREET 1: 1000 N. WEST STREET STREET 2: SUITE 1200 CITY: WILMINGTON STATE: DE ZIP: 19801 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: FMR LLC CENTRAL INDEX KEY: 0000315066 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] ORGANIZATION NAME: IRS NUMBER: 043532603 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 BUSINESS PHONE: 6175706339 MAIL ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 FORMER COMPANY: FORMER CONFORMED NAME: FMR CORP DATE OF NAME CHANGE: 19920717 SC 13G/A 1 filing.txt SCHEDULE 13G Amendment No.3 MARVELL TECHNOLOGY INC COMMON STOCK Cusip #573874104 Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [x] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) Cusip #573874104 Item 1: Reporting Person - FMR LLC Item 2: (a) [ ] (b) [ ] Item 4: Delaware Item 5: 126,814,288 Item 6: 0 Item 7: 129,672,217 Item 8: 0 Item 9: 129,672,217 Item 11: 14.999% Item 12: HC Cusip #573874104 Item 1: Reporting Person - Abigail P. Johnson Item 2: (a) [ ] (b) [ ] Item 4: United States of America Item 5: 0 Item 6: 0 Item 7: 129,672,217 Item 8: 0 Item 9: 129,672,217 Item 11: 14.999% Item 12: IN Item 1(a). Name of Issuer: MARVELL TECHNOLOGY INC Item 1(b). Address of Issuer's Principal Executive Offices: 1000 N. WEST STREET, SUITE 1200 WILMINGTON, DE 19801 USA Item 2(a). Name of Person Filing: FMR LLC Item 2(b). Address or Principal Business Office or, if None, Residence: 245 Summer Street, Boston, Massachusetts 02210 Item 2(c). Citizenship: Not applicable Item 2(d). Title of Class of Securities: COMMON STOCK Item 2(e). CUSIP Number: 573874104 Item 3. This statement is filed pursuant to Rule 13d-1(b) or 13d-2(b) or (c) and the person filing, FMR LLC, is a parent holding company in accordance with Section 240.13d-1(b)(1)(ii)(G). (Note: See Exhibit A). Item 4. Ownership (a) Amount Beneficially Owned: 129,672,217 (b) Percent of Class: 14.999% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: Please see the responses to Items 5 and 6 on the cover page (ii) shared power to vote or to direct the vote: 0 (iii) sole power to dispose or to direct the disposition of: 129,672,217 (iv) shared power to dispose or to direct the disposition of: 0 Item 5. Ownership of Five Percent or Less of a Class. Not applicable. Item 6. Ownership of More than Five Percent on Behalf of Another Person. One or more other persons are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the COMMON STOCK of MARVELL TECHNOLOGY INC. No one other person's interest in the COMMON STOCK of MARVELL TECHNOLOGY INC is more than five percent of the total outstanding COMMON STOCK. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. See attached Exhibit A. Item 8. Identification and Classification of Members of the Group. Not applicable. Item 9. Notice of Dissolution of Group. Not applicable. Item 10. Certifications. By sig