Shares of Marvell Technology ( MRVL , Financial ) soared 6% on Friday after word of insider selling by Willem A. Meintjes, Chief Financial Officer at Marvell Technology. A report filed Friday with the Securities and Exchange Commission said.

Meintjes sold 1,500 shares on January 15 at an average price of $118.33 a share for roughly $177,495. The 10b5-1 trading plan established on April 8, 2024, was the vehicle we used for this sale.

Meintjes also exercised stock options for 9,306 shares without cost on individual transactions of 765, 2,552, 3,434, and 2,555 shares. He continued to own 116,592 shares after these exercises.

Marvell's shares traded near their 52-week high of $126.15; they had rallied 83% over the past year.

Furthermore, Marvell's latest development in AI Accerlator was favoured by Wall Street analysts. KeyBanc Capital Markets signalled again that it likes the stock, setting a price target of $125 and citing AI-driven demand to fuel the company's earnings growth. Like Raymond James, RBC reaffirmed a bullish outlook, with the stock sporting a price target of $130 based on analyst's projections for future earnings per share growth.

Investors are paying attention to Marvell now thanks to a recent performance that capitalizes on Artificial intelligence and infrastructure supply trends. While the company's focus on the innovation of AI-related technologies may act as a catalyst for sustained growth, there are still the same competitive pressures and broader macroeconomic challenges to monitoring.

This article first appeared on GuruFocus .