Tranche Update on Marvell Technology, Inc.'s Equity Buyback Plan announced on November 17, 2016.
March 13, 2024 at 04:04 pm EDT
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From October 29, 2023 to March 6, 2024, the company has repurchased 1,600,000 shares, representing 0.19% for $100.35 million. With this, the company has completed the repurchase of 66,457,088 shares, representing 11.77% for $1,399.03 million under the buyback announced on November 17, 2016.
Marvell Technology Group Ltd specializes in designing and marketing integrated communications and storage circuits intended for manufacturers of high-speed network equipment, hard disks, and consumer electronics. Net sales break down by area of application as follows:
- data centers (40.7%): artificial intelligence systems, data storage systems, Ethernet switches, servers, interconnection systems, etc.;
- enterprise networks (23.1%): routers, Ethernet switches, wireless access points, network equipment, workstations, etc. for campuses, small and medium-sized enterprises;
- telecom network infrastructures (18.3%): access multiplexers, Ethernet switches, optical transport systems, routers, wireless radio network access systems, etc.;
- consumer electronics (11.9%): broadband gateways and routers, game console systems, home data storage systems, home wireless access points, personal computer systems, printers and receiver terminals;
- automotive and industrial (6%): advanced driver assistance systems, autonomous vehicle systems, embedded network systems, industrial Ethernet switches, video surveillance systems.
Net sales are distributed geographically as follows: the United States (11.7%), China (42%), Malaysia (6.6%), Thailand (6.6%), Singapore (5.6%), Taiwan (4.9%), Japan (4.4%), Finland (3.2%), Philippines (2.9%) and other (12.1%).
MARVELL TECHNOLOGY GROUP LTD 
