5 Most Promising Stocks to Buy According to Analysts

In this article, we will take a look at the 5 most promising stocks to buy according to analysts. To see more such companies, go directly to 15 Most Promising Stocks to Buy According to Analysts.

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

Number of Hedge Fund Holders: 58

One-Year Average Price Estimate: $57.13

Semiconductor company Marvell Technology, Inc. (NASDAQ:MRVL) is one of the most promising stocks according to analysts.

Recently, Morgan Stanley upped the company’s price target to $45 from $41 and kept an Equal Weight rating on Marvell Technology, Inc. (NASDAQ:MRVL). Morgan Stanley noted that following Marvell Technology, Inc. (NASDAQ:MRVL)’s quarterly results the stock has lost significant value. However, the firm has a “constructive” Equal Weight rating on Marvell Technology, Inc. (NASDAQ:MRVL). However, the firm said that it needs to have more visibility about Marvell Technology, Inc. (NASDAQ:MRVL)’s silicon Cloud business.

Earlier this month, Marvell Technology, Inc. (NASDAQ:MRVL) declared a quarterly dividend of $0.06 per share, in line with the previous dividend.

At the end of the fourth quarter of 2022, 58 hedge funds had stakes in Marvell Technology, Inc. (NASDAQ:MRVL).

Carillon Tower Advisors made the following comment about Marvell Technology, Inc. (NASDAQ:MRVL) in its Q4 2022 investor letter:

“Marvell Technology, Inc. (NASDAQ:MRVL) provides infrastructure semiconductor solutions. Investors are 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 highly important in parts of the datacenter server market and note that the company recently has secured strong wins with large technology companies to use its products. The company also benefits from 5G wireless infrastructure build-outs that remain on pace and are generally insulated from macroeconomic pressures. With supply chain issues easing, we believe Marvell remains in a strong position to post healthy growth in 2023.”