Tech Stocks Surge as Insider Sales, Key Investments, and Analyst Ratings Drive Market

1. Marvell Technology (Nasdaq: MRVL)
Marvell Technology surged by 8.69%. Marvell Technology disclosed seven insider transactions on July 16, 2024, with executives including Hussain Muhammad Raghib selling shares. Keybanc maintained an Overweight rating on Marvell Technology and raised the price target to $95.00 on July 9, 2024.

2. Super Micromputer (Nasdaq: SMCI)
Super Micromputer surged by 8.6%. Super Micro Computer reported FY24 Q4 earnings below expectations but projected FY25 revenue to double. Goldman Sachs maintained a neutral rating and lowered the target price to $675. B of A Securities downgraded its rating to neutral and reduced the target price to $700.

3. Dell Technologies (NYSE: DELL)
Dell Technologies surged by 7.16%. JP Morgan and Wells Fargo maintain Overweight on Dell Technologies. JP Morgan raises the price target to $160.00, while Wells Fargo lowers it to $150.00. Dell Technologies reported Q1 2025 revenue of $22.44 billion with a net income of $955 million. Carlyle Group invests in Dell Technologies.

4. Cisco Systems (Nasdaq: CSCO)
Cisco Systems surged by 6.8%. Cisco Systems reported fiscal year 2024 revenue of $53.8 billion and net income of $10.32 billion. The company announced global layoffs, reducing the workforce by 7%, and will focus on AI and cybersecurity. Various analysts maintain mixed ratings with adjusted price targets.

5. On Semiconductor (Nasdaq: ON)
On Semiconductor surged by 6.75%. On Semiconductor invested $20 billion in a Czech town and signed a long-term supply agreement with Entegris for SiC technology solutions. The company reported Q2 2024 revenue of $3.98 billion and net profit of $792 million. JP Morgan and Deutsche Bank updated their ratings and target prices.