10 AI Stocks on the Market’s Radar

6. Marvell Technology, Inc. (NASDAQ:MRVL)

Number of Hedge Fund Holders: 77

Marvell Technology, Inc. (NASDAQ:MRVL) is one of the 10 AI Stocks on the Market’s Radar. On November 24, UBS raised its price target on the stock to $110 from $105 while maintaining a “Buy” rating. The firm maintains a bullish near-term view on Marvell and sees upside coming from its optics business and Microsoft-related ASIC wins.

The firm said that it is “tweaking” estimates higher to reflect the improved optics outlook for Marvell and also adding more Microsoft-related ASIC revenue beginning in late 2026 and into 2027.

“As a result of optics attach to GPU ramp, we see slight upward bias to FQ4 (Jan) guidance that may end up as high as $2.2B (Street $2.175B). We roll forward from average CY26/27E EPS of $3.51 to CY27E EPS of $4.43 (vs prior est of $3.85) and applying 25x NTM PE, increasing PT from $105 to $110.”

Marvell Technology, Inc. (NASDAQ:MRVL) engages in the development and production of semiconductors, focusing heavily on data centers.