10 AI Stocks Investors Are Watching Closely Right Now

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

Number of Hedge Fund Holders: 105

Marvell Technology, Inc. (NASDAQ:MRVL) engages in the development and production of semiconductors. On March 7, Mark Lipacis from Evercore ISI maintained a “Buy” rating on the stock with a price target of $135.00. The company has failed to meet Wall Street’s lofty “whisper number” with its sales guidance, posting a slight beat-and-raise report. The company reported an adjusted 60 cents a share, up 30% year over year, on sales of $1.82 billion.

However, Lipacis said in a client note that the unofficial fiscal Q1 sales bogey was north of $2.1 billion. Another concern is whether it won a contract to make Amazon’s next-generation Trainium server processor. Marvell currently makes the Trainium 2 chip for Amazon.

“A key investor debate is whether Marvell or a Taiwan-based competitor (AIchip Technologies) has won the follow-on custom-AI processor chip to Amazon, called Trainium 3.”

-Mark Lipacis.