Santa Clara, CA – On January 15, Mark Casper, Executive Vice President and Chief Legal Officer at Marvell (NASDAQ:) Technology, Inc. (NASDAQ: MRVL ), made a series of stock sales, reaching a significant sale on January 17. According to the most recent SEC filing, Casper sold 7,755 shares of Marvell Technology common stock at an average price of $123.08, reaching $123.08. about $954,485. The sale comes as Marvell's stock is trading near a 52-week high of $126.15, and the company's capitalization reaches $107.95 billion.
The transactions were part of a 10b5-1 Plan, a pre-arranged trading plan that allows insiders to sell stocks at set times, to ensure compliance with insider trading laws. The sale followed the acquisition of common stock through the issuance of restricted stock units (RSUs) earlier in the week.
After the sale, Casper has no direct ownership but retains indirect ownership of 20,163 shares through the trust. These transactions demonstrate systematic financial management and adherence to the guidelines for the management of share trading by company insiders.
In other recent news, Marvell Technologies has made significant progress in its AI capabilities. The company announced a new AI accelerator architecture that integrates co-packaged optics (CPO) technology, improving server performance and increasing server AI capabilities. This development is expected to greatly benefit cloud hyperscalers, allowing them to meet the growing demands of AI applications. Analysts from KeyBanc Capital Markets and Raymond (NS:) James maintained their positive rating on Marvell, with both firms setting a target price of $130.00. Analysts also revised their earnings expectations upward, with CFRA analyst Angelo Zino raising fiscal year 2025, 2026, and 2027 earnings per share (EPS) estimates. These latest developments reflect growing optimism surrounding Marvell's growth prospects in the semiconductor industry.
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