Hedge Funds Are Buying Marvell Technology Group Ltd. (MRVL)

As aggregate interest increased, key money managers have jumped into Marvell Technology Group Ltd. (NASDAQ:MRVL) headfirst. Passport Capital initiated the biggest position in Marvell Technology Group Ltd. (NASDAQ:MRVL). Josh Resnick’s Jericho Capital Asset Management also initiated a $130.6 million position during the quarter. The other funds with brand new MRVL positions are Steve Cohen’s Point72 Asset Management, Dmitry Balyasny’s Balyasny Asset Management, and David Harding’s Winton Capital Management.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Marvell Technology Group Ltd. (NASDAQ:MRVL) but similarly valued. These stocks are SVB Financial Group (NASDAQ:SIVB), Yamana Gold Inc. (USA) (NYSE:AUY), East West Bancorp, Inc. (NASDAQ:EWBC), and Starwood Property Trust, Inc. (NYSE:STWD). This group of stocks’ market caps match MRVL’s market cap.

As you can see these stocks had an average of 20 hedge funds with bullish positions and the average amount invested in these stocks was $357 million. That figure was $1.71 billion in MRVL’s case. East West Bancorp, Inc. (NASDAQ:EWBC) is the most popular stock in this table. On the other hand SVB Financial Group (NASDAQ:SIVB) is the least popular one with only 19 bullish hedge fund positions. Compared to these stocks Marvell Technology Group Ltd. (NASDAQ:MRVL) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.