Santa Clara, CA – On January 15, Mark Casper, Executive Vice President and Chief Legal Officer of Marvell (NASDAQ:) Technology, Inc. (NASDAQ:MRVL), executed a series of stock transactions culminating in a significant sale on January 17. January. According to a recent SEC filing, Casper sold 7,755 shares of Marvell Technology common stock at an average price of $123.08, which is equivalent to approximately $954,485. The sale comes as Marvell shares trade near their 52-week high of $126.15, and the company’s market capitalization reaches $107.95 billion.
The transactions were part of a 10b5-1 Plan, a pre-arranged trading plan that allows insiders to sell shares at predetermined times, ensuring compliance with insider trading laws. The sale followed several acquisitions of common stock through the purchase of restricted stock units (RSUs) earlier in the week.
After the sale, Casper owns no direct shares, but retains indirect ownership of 20,163 shares through a trust. These transactions reflect strategic financial management and compliance with regulatory frameworks for trading in shares by company insiders.
In other recent news, Marvell Technology has made significant progress in its artificial intelligence capabilities. The company announced a new AI accelerator architecture that integrates packaged optics (CPO) technology, improving server performance and expanding AI server capabilities. This development is expected to significantly benefit cloud hyperscalers, allowing them to meet the growing demands of AI applications. Analysts at KeyBanc Capital Markets and Raimon (NS:) James has maintained his positive ratings on Marvell, and both companies have set a price target of $130.00. Analysts have also revised up their earnings expectations, with CFRA analyst Angelo Zino raising earnings per share (EPS) estimates for fiscal years 2025, 2026, and 2027. These recent developments reflect the growing optimism surrounding Marvell’s growth prospects in the semiconductor industry.
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