Carillon Tower Advisers Believes that Marvell Technology (MRVL) is in a Strong Position to Post Robust Growth

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Mid Cap Growth Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. The second quarter witnessed a poor overall performance of mid-cap stocks. The Russell Midcap Growth Index was down 21.07% and fell more compared to its counterpart Russell Midcap Value Index (down 14.68%). In the quarter, all sector returns were negative for the Russell Midcap Growth Index due to market volatility. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Carillon Tower Advisers discussed stocks like Marvell Technology, Inc. (NASDAQ:MRVL) in its second quarter 2022 investor letter. Headquartered in Wilmington, Delaware, Marvell Technology, Inc. (NASDAQ:MRVL) engages in the business of semiconductors and related technology. On September 2, 2022, Marvell Technology, Inc. (NASDAQ:MRVL) stock closed at $45.76 per share. One-month return of Marvell Technology, Inc. (NASDAQ:MRVL) was -17.68% and its shares lost 25.61% of their value over the last 52 weeks. Marvell Technology, Inc. (NASDAQ:MRVL) has a market capitalization of $38.891 billion.

Here is what Carillon Tower Advisers specifically said about Marvell Technology, Inc. (NASDAQ:MRVL):

“Marvell Technology, Inc. (NASDAQ:MRVL) provides infrastructure semiconductor solutions. Investors have recently become 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 extremely important in parts of the datacenter server market, which remains healthy and possesses long-term secular trends. The company also has secured strong contract wins in upcoming global 5G wireless infrastructure build-outs, which are generally insulated from macroeconomic pressures. With supply chain issues easing, we believe Marvell remains in a strong position to post continued robust growth.”

Marvell Technology, Inc. (NASDAQ:MRVL) is not on the list of 30 Most Popular Stocks Among Hedge Funds. Marvell Technology, Inc. (NASDAQ:MRVL) was held by 63 hedge fund portfolios at the end of the second quarter compared to 63 in the previous quarter.

We discussed Marvell Technology, Inc. (NASDAQ:MRVL) in another article and shared the best dividend stocks under $50 according to hedge funds. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent investors.

Disclosure: None. This article is originally published at Insider Monkey.