Goldman Sachs’ List Of Stocks Popular With Mutual Fund Managers: Top 20 Stocks

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

Number of  Mutual Funds: 33

Number of Hedge Fund Investors in Q2 2024:  74

Marvell Technology, Inc. (NASDAQ:MRVL) is a specialty American semiconductor company headquartered in Wilmington, Delaware. It designs and sells chips for networking applications. Marvell Technology, Inc. (NASDAQ:MRVL)’s products include Ethernet switches, ASICs, and signal processors. These products are vital for every data center and cloud computing system, which makes it unsurprising that Marvell Technology, Inc. (NASDAQ:MRVL)’s shares are up by 35% over the past twelve months. The optimism is primarily because of a growth in data center build outs for artificial intelligence systems. When it comes to AI, Marvell Technology, Inc. (NASDAQ:MRVL) is also an enabler because of its ASIC design. These are chips designed to compute custom workloads, and as the AI industry increasingly searches for alternatives to NVIDIA’s expensive and scarce GPUs, Marvell Technology, Inc. (NASDAQ:MRVL) could see more orders. It has already made progress on this front by working with three companies to produce an AI accelerator.

Marvell Technology, Inc. (NASDAQ:MRVL)’s management shared insights about these chips during the Q2 2025 earnings call:

“Our AI custom silicon programs are progressing very well, with our first two chips now ramping into volume production.

Development for new custom programs we have already won, including projects with a new Tier 1 AI customer we announced earlier this year, are also tracking well to key milestones. Looking ahead to the third quarter of fiscal 2025 for our data center end market, we are forecasting revenue growth to accelerate into the high teens sequentially on a percentage basis. We expect the largest contributor to this growth will be our AI custom silicon programs as they begin to ramp meaningfully in the third quarter, further augmented by ongoing growth from our optics portfolio.”