5 Best 5G Stocks To Buy Now

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

Number of Hedge Fund Holders: 63

Marvell Technology, Inc. (NASDAQ:MRVL) is a Delaware-based company that designs, develops, and sells analog, mixed-signal, digital signal processing, embedded, and standalone integrated circuits. The company provides end-to-end optimized 5G platforms and related 5G solutions. 

On October 18, investment advisory Deutsche Bank maintained a Buy recommendation on Marvell Technology, Inc. (NASDAQ:MRVL) but lowered the firm’s price target on the shares to $55 from $65. Analyst Ross Seymore issued the ratings update. 

According to Insider Monkey’s data, Marvell Technology, Inc. (NASDAQ:MRVL) was part of 63 hedge fund portfolios at the end of June 2022, with combined stakes worth $1.6 billion. Paul Marshall and Ian Wace’s Marshall Wace LLP is the leading position holder in the company, with approximately 5 million shares valued at $214 million. 

Here is what Carillon Tower Advisers specifically said about Marvell Technology, Inc. (NASDAQ:MRVL) in its Q2 2022 investor letter:

“Marvell Technology, Inc. (NASDAQ:MRVL) provides infrastructure semiconductor solutions. Investors have recently become concerned about the semiconductor cycle and how demand for Marvell’s products will fare in a slowing economic environment. We remain confident that the company’s portfolio of products is extremely important in parts of the datacenter server market, which remains healthy and possesses long-term secular trends. The company also has secured strong contract wins in upcoming global 5G wireless infrastructure build-outs, which are generally insulated from macroeconomic pressures. With supply chain issues easing, we believe Marvell remains in a strong position to post continued robust growth.”