5 Best Tech Stocks to Buy Now According to Totem Point Management

4. Marvell Technology Group Ltd. (NASDAQ:MRVL)

Totem Point Management’s Stake Value: $12,243,000

Percentage of Totem Point Management’s 13F Portfolio: 7.97%

Number of Hedge Fund Holders: 45

Totem Point cut the size of its Marvell Technology Group Ltd. (NASDAQ:MRVL) position by 23% during Q3, to 202,994 shares, though it remained the fund’s favorite chipmaker among a slew of other chipmakers found in its 13F portfolio.

One of the 5 Best Stocks to Buy for 2022 According to Analysts, Marvell Technology Group Ltd. (NASDAQ:MRVL) was given price hikes by several prominent analysts following its Q3 results. The company ranked as Needham’s top semiconductor stock pick, with the firm predicting 30% organic revenue growth for the company in the calendar year 2022, outpacing all of its large-cap peers thanks in part to its focus on the fastest-growing markets. Marvell Technology Group Ltd. (NASDAQ:MRVL) also ranks as a top semiconductor stock pick by JPMorgan, which believes the market is discounting the industry’s strong fundamentals as well as its tight supply chain dynamics.