5 Best Up and Coming Stocks to Invest In

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

Number of Hedge Fund Holders: 33  

Marvell Technology, Inc. (NASDAQ: MRVL) is placed fourth on our list of 10 best up and coming stocks to invest in. The company’s shares have returned 67% to investors over the past twelve months. The firm makes and sells integrated circuits technology. On June 7, the firm posted earnings for the first quarter, reporting earnings per share of $0.29, beating market predictions by $0.02. The revenue over the period was more than $830 million, up over 20% year-on-year and beating estimates by close to $15 million. 

On July 6, investment advisory KeyBanc maintained an Overweight rating on Marvell Technology, Inc. (NASDAQ: MRVL) stock and raised the price target to $65 from $60, highlighting the strengthening enterprise demand for 5G in the ratings update. 

At the end of the first quarter of 2021, 33 hedge funds in the database of Insider Monkey held stakes worth $683 million in Marvell Technology, Inc. (NASDAQ: MRVL), down from 40 in the preceding quarter worth $556 million. 

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.”