5 Semiconductor Stocks Billionaires Are Loading Up On

In this article, we will take a look at the 5 semiconductor stocks billionaires are loading up on. For more stocks, head on over to 10 Semiconductor Stocks Billionaires Are Loading Up On.

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

Number of Billionaire Investors: 17

Dollar Value of Billionaire Holdings: $322,781,760

Number of Hedge Fund Holders: 62

Marvell Technology, Inc. (NASDAQ:MRVL) is a Santa Clara, California-based semiconductor company founded in 1995 that designs and manufactures a wide range of integrated circuits and related products. On May 26, C. J. Muse at Evercore ISI increased the price target on Marvell Technology, Inc. (NASDAQ:MRVL) from $60 to $70 and maintained an Outperform rating on the shares. The analyst noted that the company reported a “modest beat” in Q1 2023 results.

Here’s what Baron Funds said about Marvell Technology, Inc. (NASDAQ:MRVL) in its Q1 2023 investor letter:

“We took advantage of weakness to purchase shares of Marvell Technology, Inc. (NASDAQ:MRVL), a leading supplier of infrastructure semiconductor solutions that enable the rapid and efficient movement of data throughout the broader data economy, from the data center core to the network edge. Through both organic development and acquisitions led by CEO Matt Murphy since he took over in 2016, Marvell has built a portfolio of market-leading products and IP across computing, networking, security, electro-optics, and storage. Consequently, the company is a critical partner for hyperscale cloud service provider, data center, enterprise networking, carrier infrastructure, consumer, and automotive/industrial end-market customers. Marvell is targeting 15% to 20% average revenue growth through the semiconductor cycle in the coming years, largely driven by secular trends and company-specific product innovations within the cloud, 5G, and automotive end markets. We believe Marvell can deliver on or exceed this target because, among other growth opportunities, its market-leading optical products are critical to delivering increasing data transmission speeds required by hyperscale customers in AI training and inference. At the same time, the company is simultaneously ramping up a custom silicon business working directly with hyperscale partners. Given the dislocation in the stock on near-term cyclical concerns, we believe we paid an attractive price for the long-term growth of this industry-leading company.”