Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Willem A. Meintjes, Chief Financial Officer of Marvell (NASDAQ:) Technologies, Inc. (NASDAQ: MRVL ), recently made several stock transactions, according to a filing with the Securities and Exchange Commission. The deals come as Marvell’s stock nears a 52-week high of $126.15, having delivered a nice 83% gain over the past year. InvestingPro analysis shows that the stock is still trading above its fair value.
On January 15th, Meintjes sold 1,500 shares of Marvell common stock at an average price of $118.33 per share, amounting to $177,495. The sale was made under a 10b5-1 business plan that was established prior to April 8, 2024.
In addition, Meitjes exercised stock options for a total of 9,306 shares without payment. These deals were part of a series of options, which included acquisitions of 765, 2,552, 3,434, and 2,555 shares respectively. After these transactions, Meintjes owns 116,592 shares of Marvell common stock.
The announcement also noted that Meintjes donated shares to cover tax losses resulting from the issuance of restricted stock, totaling $455,300 at a price of $116 per share.
In other recent news, Marvell Technology has made significant progress in the area of AI infrastructure by launching a new AI accelerator with co-packaged optics (CPO) technology. This development is expected to improve server performance and expand server AI capabilities. Analysts from KeyBanc Capital Markets and Raymond (NS:) James maintained their bullish rating 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 overall earnings estimates for fiscal years 2025, 2026 and 2027, expecting a significant increase in production of conventional silicon chips.
Marvell’s latest innovations include the introduction of a 1.6 Tbps optical chipset and High-Bandwidth Memory (HBM) computing architecture, both aimed at improving data transmission and AI performance. These innovations are expected to improve the utilization and performance of the data center.
Marvell’s strategic partnerships with Amazon (NASDAQ: ) Web Services and Microsoft (NASDAQ: ) are expected to rise significantly by 2026. Raymond James expects a combined revenue growth rate of more than 25% for Marvell in the next three to four years if AI usage remains strong. These latest developments reflect a series of positive trends for Marvell, reflecting strong investor confidence in the company’s future.
This article was created with the support of AI and reviewed by the editor. For more details, see our T&C.
