SANTA CLARA, CA – On January 15, Mark Casper, Executive Vice President and Chief Legal Officer of Marvell (NASDAQ:) Technology, Inc. (NASDAQ:MRVL), a series of stock transactions, culminating in a sell-off on January 17 According to a recent SEC filing, Casper sold 7,755 shares of Marvell Technology common stock at an average price of $123.08, for a value of $954,485. Almost American. The sale comes as Marvell stock trades near its 52-week high of $126.15, with the company’s market cap reaching $107.95 billion.
The transactions were part of a 10b5-1 scheme, a pre-arranged trading plan that allows insiders to sell shares at pre-determined times, ensuring compliance with insider trading laws. The sale followed several acquisitions of common stock through vesting of restricted stock units (RSUs) earlier in the week.
Following the sale, Casper holds no direct shares but maintains indirect ownership of 20,163 shares through a trust. These transactions reflect strategic financial management and adherence to regulatory frameworks for stock trading by company insiders.
In other recent news, Marvell Technology has made major strides in its AI capabilities. The company announced a new AI accelerator architecture that integrates Clustering Optics (CPO) technology, boosting server performance and expanding AI server capabilities. This development is expected to greatly benefit cloud scalers, allowing them to meet the increasing demands of AI applications. Analysts from KeyBanc Capital Markets and Raymond (NS:) James maintained his Positive ratings on Marvell, with both companies setting a price target of $130.00. Analysts also revised their earnings forecasts upward, with CFRA analyst Angelo Zino raising EPS estimates for fiscal 2025, 2026 and 2027. These latest developments reflect the growing optimism surrounding Marvell’s growth prospects in the semiconductor industry.
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