5 Best Stocks to Buy for 2022 According to Analysts

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

Number of Hedge Fund Holders: 45    

Marvell Technology, Inc. (NASDAQ:MRVL) makes and sells integrated circuits and semiconductors. JPMorgan, Needham, Wells Fargo, and Stifel have all raised their price targets on the stock after a solid third quarter earnings beat and 2022 growth prospects given the position of the company as a supplier of key “cloud-optimized silicon” for data infrastructure customers.

Marvell Technology, Inc. (NASDAQ:MRVL) stock has surged over 22% since the announcement of its third quarter earnings results that beat market estimates on earnings per share and revenue by $0.05 and $60 million, respectively. 

At the end of the third quarter of 2021, 45 hedge funds in the database of Insider Monkey held stakes worth $1.1 billion in Marvell Technology, Inc. (NASDAQ:MRVL).

In its Q1 2021 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Marvell Technology, Inc. (NASDAQ:MRVL) was one of them. Here is what the fund said:

“We also purchased Marvell Technology Group, in the IT sector, a semiconductor maker with exposure to the fast growing 5G and data center markets whose shares sold off in the latest rotation out of growth stocks. Marvell just acquired data center supplier Inphi, a name we have held in other ClearBridge portfolios, which should increase the chipmaker’s cross-selling opportunities in a strong demand environment for chips.”