The chief legal officer of Marvell Technology is selling $954,000 worth of stock to Investing.com
Santa Clara, CA – On January 15th, Mark Casper, Executive Vice President and Chief Legal Officer of Marvell (NASDAQ:) Technology, Inc. (NASDAQ: MRVL ), conducted a series of stock transactions, culminating in a significant sale on January 17th. According to a recent filing with the SEC, Casper sold 7,755 shares of Marvell Technology common stock at an average price of $123.08, amounting to approximately $954,485. The sale comes as Marvell shares are hovering near a 52-week high of $126.15, while the company’s market capitalization reaches $107.95 billion.
The transactions were part of a 10b5-1 plan, a prearranged trading plan that allows insiders to sell shares at a predetermined time, ensuring compliance with insider trading laws. The sale followed several acquisitions of common stock through restricted stock unit awards (RSUs) earlier in the week.
After the sale, Casper has no direct shares, but retains 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 significant progress in its AI capabilities. The company announced a new AI accelerator architecture that integrates packaged optics (CPO) technology, improving server performance and expanding server AI capabilities. This development is expected to significantly contribute to cloud hyperscalers, enabling them to meet the growing demands of AI applications. Analysts from KeyBanc Capital Markets i Raymond (NS:) James maintained his positive rating on Marvell, and both companies set a $130.00 target price. Analysts also revised their earnings expectations upward, with CFRA analyst Angelo Zino increasing his earnings per share (EPS) estimates for fiscal years 2025, 2026 and 2027. These recent developments reflect growing optimism about Marvell’s industry growth prospects semiconductors.
This article was generated with the help of AI and reviewed by an editor. See our T&C for more information.
