Willem A. Meintjes, the Chief Financial Officer of Marvell (NASDAQ:) Technology, Inc. (NASDAQ:MRVL), recently executed several stock transactions, according to a filing with the Securities and Exchange Commission. The transactions come as Marvell’s stock trades near its 52-week high of $126.15, having delivered an impressive 83% return over the past year. InvestingPro analysis indicates 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, totaling approximately $177,495. This sale was conducted under a pre-established 10b5-1 trading plan dated April 8, 2024.
Additionally, Meintjes exercised stock options for a total of 9,306 shares at no cost. These transactions were part of a series of option exercises, which included acquiring 765, 2,552, 3,434, and 2,555 shares respectively. Following these transactions, Meintjes holds 116,592 shares of Marvell common stock.
The filing also noted that Meintjes surrendered shares to cover tax withholdings resulting from the vesting of restricted stock units, amounting to a total of $455,300 at a price of $116 per share.
In other recent news, Marvell Technology has made significant strides in the AI infrastructure space with the launch of a new AI accelerator featuring co-packaged optics (CPO) technology. This advancement is expected to enhance server performance and expand AI server capabilities. Analysts from KeyBanc Capital Markets and Raymond (NS:) James have maintained their positive ratings on Marvell, setting price targets of $125 and $130 respectively, based on future earnings per share estimates.
CFRA analyst Angelo Zino has also raised his price target for Marvell to $130, reflecting the company’s strong growth prospects. He adjusted the earnings per share forecasts for fiscal years 2025, 2026, and 2027, anticipating a significant ramp-up in the production of custom silicon chips.
Marvell’s recent developments include the launch of a 1.6 Tbps optical chipset and a custom High-Bandwidth Memory (HBM) compute architecture, both aimed at enhancing data transfers and AI performance. These innovations are expected to enhance data center infrastructure utilization and performance.
Marvell’s strategic engagements with Amazon (NASDAQ:) Web Services and Microsoft (NASDAQ:) are expected to significantly ramp up in 2026. Raymond James anticipates a potential revenue compound annual growth rate of over 25% for Marvell over the next three to four years if AI spending remains strong. These recent developments reflect a series of positive trends for Marvell, signaling strong investor confidence in the company’s future.
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