12 Best Tech Stocks to Buy According to Hedge Funds

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

Average Analyst Upside: 38.77%

Number of Hedge Fund Holders: 76

Market Cap: $55.7 billion

Marvell Technology, Inc. (NASDAQ:MRVL) is one of the best tech stocks to buy according to analysts. On August 29, JP Morgan maintained an Overweight rating on Marvell Technology, Inc. (NASDAQ:MRVL), but reduced its price target from $130 to $120. The price target trim comes after the semiconductor company reported its Q2 Fiscal Year 2026 results on August 28. The stock has plummeted over 15% since reporting its earnings. However, the new price target still represents a whopping 85.75% upside from its market price of $64.6 as of September 2.

The stock fell post earnings due to its disappointing guidance for the key data center segment, its largest and by far its most important segment. The company guided that its data center business would be flat in the Fiscal Q3 on a sequential basis. This is a huge miss as a high portion of the stock’s value is derived from the high growth expectations driven by the booming AI sector.

According to JP Morgan, the chip company reported in line with the July quarter results, with upside in consumer demand being offset by weaker demand trends in the data center. However, the bank sees a “solid setup” for the company going forward, driven by continued recovery in its cyclical business and AI growth tailwinds.

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