09:30 AM EDT, 09/24/2025 (MT Newswires) -- Marvell Technology ( MRVL ) said Wednesday that its board of directors has approved a new $5 billion stock buyback program.

The semiconductor company said it had approximately $2 billion left under its previous repurchase program as of Aug. 2, and that it has bought back $300 million of common stock since then.

Marvell ( MRVL ) said it also signed an accelerated share repurchase agreement with an unnamed financial institution to buy back $1 billion of its common stock.

Shares of Marvell Technology ( MRVL ) were up over 3% in early trading Wednesday.