Willem A. Meintjes, CFO of Marvell (NASDAQ:) Technology, Inc. (NASDAQ:MRVL), recently executed several stock transactions, according to a filing with the Securities and Exchange Commission. These transactions come as Marvell stock trades near its 52-week high of $126.15, having generated an impressive 83% return over the past year. InvestingPro The analysis indicates that the stock is currently trading above its fair value.
On January 15, Meintjes sold 1,500 shares of Marvell common stock at an average price of $118.33 per share, for a total of approximately $177,495. This sale was made pursuant to a 10b5-1 trading plan previously scheduled for April 8, 2024.
In addition, Meintjes exercised stock options for a total of 9,306 shares at no cost. These transactions were part of a series of options exercises, which included the acquisition of 765, 2,552, 3,434 and 2,555 shares, respectively. Following these transactions, Meintjes will own 116,592 shares of Marvell common stock.
The filing also noted that Meintjes delivered shares to cover tax withholdings resulting from the grant of restricted stock units, totaling $455,300 at $116 per share.
In other recent news, Marvell Technology has made big strides in AI infrastructure with the launch of its new AI Accelerator featuring Collector Optics (CPO) technology. This advancement is expected to improve server performance and expand AI server capabilities. Analysts from KeyBanc Capital Markets and Raymond (NS:) James maintained his positive ratings on Marvell, setting price targets of $125 and $130, respectively, based on future earnings per share estimates.
CFRA analyst Angelo Zino also raised his price target on Marvell to $130, reflecting the company's strong growth prospects. He revised his earnings per share forecast for fiscal years 2025, 2026 and 2027, anticipating a significant increase in production of custom silicon chips.
Marvell's recent developments include the launch of a 1.6 Tbps optical chipset and a dedicated high-bandwidth memory (HBM) compute architecture, both aimed at boosting data transfers and AI performance. These innovations are expected to improve the utilization and performance of data center infrastructure.
Marvell's strategic tie-ups with Amazon (NASDAQ:) Web Services and Microsoft (NASDAQ:) are expected to grow significantly in 2026. Raymond James forecasts a potential revenue CAGR of over 25% for Marvell over the next three to four years if no Spending on artificial intelligence remains strong. These latest developments reflect a series of positive trends for Marvell, indicating strong investor confidence in the company's future.
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