10 AI News Dominating Wall Street Today

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

Number of Hedge Fund Holders: 70

Marvell Technology, Inc. (NASDAQ:MRVL) engages in the development and production of semiconductors. On December 20, Morgan Stanley analyst Joseph Moore raised the firm’s price target on Marvell Technology to $120 from $102 and kept an “Equal Weight” rating on the shares. According to the firm, the semiconductor industry is attractive with the artificial intelligence market leading the way. The firm sees “a U-shaped bottom continuing to play out elsewhere”, as noted in its 2025 industry outlook. Marvell reported a revenue of over $1.5 billion in the third quarter of fiscal 2025, reflecting a 7% growth from the previous year.  The strong demand for AI technologies was a significant driver of this growth. In particular, data center revenue—driven by AI products, surged 98% year-over-year to comprise 73% of total revenue.