BlackRock Amends Marvell Tech Stake, Signals Continued Passive Investment

Ticker: MRVL · Form: SC 13G/A · Filed: 2024-02-12T00:00:00.000Z

Sentiment: neutral

Topics: institutional-ownership, passive-investment, amendment, semiconductors

TL;DR

**BlackRock still owns a big chunk of Marvell Tech, but it's a passive stake.**

AI Summary

BlackRock Inc. filed an amended Schedule 13G/A on February 12, 2024, indicating its ownership of Marvell Technology, Inc. common stock as of December 31, 2023. This filing updates their previous disclosure, showing their continued significant, but passive, investment in the semiconductor company. This matters to investors because BlackRock is a major institutional investor, and their holdings can signal confidence in Marvell Technology's long-term prospects, potentially influencing other investors.

Why It Matters

This filing confirms BlackRock's ongoing substantial, yet passive, ownership in Marvell Technology, Inc., which can be seen as a vote of confidence from a major institutional investor.

Risk Assessment

Risk Level: low — This filing is a routine update from a passive institutional investor and does not indicate any immediate risks or changes in company control.

Analyst Insight

A smart investor would note BlackRock's continued passive stake as a sign of institutional confidence, but also understand that this filing doesn't suggest any active management changes or immediate catalysts for Marvell Technology, Inc. stock.

Key Players & Entities

Forward-Looking Statements

FAQ

What type of filing is this document?

This document is an SC 13G/A, which is an amendment to a Schedule 13G filing, as stated in the 'FORM TYPE: SC 13G/A' and 'SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No: 2)' sections.

Who is the reporting person in this filing?

The reporting person is BlackRock, Inc., as indicated under '(1)Names of reporting persons. BlackRock, Inc.' and in the 'FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Inc.' section.

What is the subject company whose shares are being reported?

The subject company is Marvell Technology, Inc., as stated under 'SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Marvell Technology, Inc.' and 'Marvell Technology, Inc. (Name of Issuer)'.

What was the 'Date of Event Which Requires Filing of this Statement'?

The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, as explicitly stated in the filing.

Under which rule is this Schedule 13G filed?

This Schedule 13G is filed under Rule 13d-1(b), as indicated by the '[X] Rule 13d-1(b)' checkbox.

From the Filing

0001086364-24-006982.txt : 20240212 0001086364-24-006982.hdr.sgml : 20240212 20240212161719 ACCESSION NUMBER: 0001086364-24-006982 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240212 DATE AS OF CHANGE: 20240212 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: 24620155 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: BlackRock Inc. CENTRAL INDEX KEY: 0001364742 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] ORGANIZATION NAME: 02 Finance IRS NUMBER: 320174431 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 BUSINESS PHONE: 212-810-5300 MAIL ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 FORMER COMPANY: FORMER CONFORMED NAME: BlackRock, Inc. DATE OF NAME CHANGE: 20060929 FORMER COMPANY: FORMER CONFORMED NAME: New BlackRock, Inc. DATE OF NAME CHANGE: 20060601 SC 13G/A 1 us5738741041_021224.txt us5738741041_021224.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No: 2) Marvell Technology, Inc. -------------------------------------------------------- (Name of Issuer) Common Stock -------------------------------------------------------- (Title of Class of Securities) 573874104 -------------------------------------------------------- (CUSIP Number) December 31, 2023 -------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) 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) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 573874104 (1)Names of reporting persons. BlackRock, Inc. (2) Check the appropriate box if a member of a group (a) [ ] (b) [X] (3) SEC use only (4) Citizenship or place of organization Delaware Number of shares beneficially owned by each reporting person with: (5) Sole voting power 54965303 (6) Shared voting power 0 (7) Sole dispositive power 60534116 (8) Shared dispositive power 0 (9) Aggregate amount beneficially owned by each reporting person 60534116 (10) Check if the aggregate amount in Row (9) excludes certain shares (11) Percent of class represented by amount in Row 9 7.0% (12) Type of reporting person HC Item 1. 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 Item 2. 2(a) Name of person filing: ---------------------------------------------------------------------- BlackRock, Inc. 2(b) Address or principal

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