Marvell rises after top executives buy shares of chipmaker

Shares of Marvell Technology (NASDAQ:MRVL) rose about 3% on Thursday after regulatory filings showed that several company executives bought the chipmaker's stock.

Chairman and CEO Matt Murphy bought 13,600 shares at $77 apiece. Following this, Murphy owns 268,637 shares of the company.

Chris Koopmans, president and chief operating officer, acquired 6,800 shares at $78.03 per share and now owns 104,825 shares of Marvell.

The company's CFO Willem Meintjes bought 3,400 shares at $78.03 apiece. Meintjes now has 132,159 shares in total.

Sandeep Bharathi, President of the Data Center Group at Marvell, acquired 3,400 shares at $78.03 per share and now owns 73,392 shares of Marvell.