Bank of America just raised its EUR/USD forecast
Brad W. Buss, a director at Marvell Technology, Inc. (NASDAQ:MRVL), recently acquired 3,000 shares of the company’s common stock, according to a regulatory filing. The purchase, made on March 7, 2025, totaled approximately $207,000. The shares were bought at a weighted average price of $69, with transaction prices ranging from $68.61 to $69.49. The timing is notable as InvestingPro data shows the stock has declined over 22% in the past week, with technical indicators suggesting oversold conditions.
Following this acquisition, Buss holds a total of 87,113 shares in Marvell Technology. The transaction highlights Buss’s continued investment in the semiconductor company, which is headquartered in Wilmington, Delaware. According to InvestingPro analysis, 19 analysts have recently revised their earnings expectations upward, with the company expected to return to profitability this year. For detailed insights and 13 additional ProTips about Marvell Technology, including comprehensive valuation metrics and growth forecasts, investors can access the full Pro Research Report on InvestingPro.
In other recent news, Broadcom (NASDAQ:AVGO) reported strong financial results for the first quarter, with adjusted earnings per share of $1.60, surpassing the Bloomberg Consensus estimate of $1.50. The company’s adjusted net revenue reached $14.92 billion, exceeding the forecasted $14.61 billion, and it projects second-quarter revenue to be around $14.9 billion. In response to Broadcom’s optimistic forecast, Nvidia (NASDAQ:NVDA) saw gains in premarket trading, reflecting investor confidence in AI computing expenditure. Meanwhile, Marvell Technology has been the focus of several analyst updates. CFRA reduced its price target for Marvell to $90 but maintained a Strong Buy rating, citing Marvell’s growth in AI infrastructure. Jefferies also lowered its price target to $100 while retaining a Buy rating, emphasizing Marvell’s advancements in 3nm technology. Benchmark held its Buy rating with a $135 price target, despite acknowledging Marvell’s modest guidance. Cantor Fitzgerald adjusted its price target to $125, maintaining an Overweight rating and highlighting Marvell’s partnership with Amazon (NASDAQ:AMZN) as a key growth driver. These developments indicate a mixed outlook for Marvell, with analysts recognizing both challenges and opportunities in its future trajectory.
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