10 Best Semiconductor Stocks With The Highest Upside Potential

3. Marvell Technology Inc. (NASDAQ:MRVL)

Upside Potential: 63.86%

Market Capitalization: $60.46 Billion

Number of Hedge Fund Holders: 105

Marvell Technology Inc. (NASDAQ:MRVL) designs and supplies semiconductor solutions focused on high-speed data infrastructure. Its products serve industries like cloud computing, telecommunications, automotive, industrial, and consumer electronics. Marvell Technology Inc. (NASDAQ:MRVL) is heavily focused on the cloud market, helping data centers and storage networks improve bandwidth and reduce delays. It also supports the transition to 5G networks with products that enhance both wireless and wired performance.

Marvell Technology, Inc. (NASDAQ:MRVL) reported $5.77 billion in revenue for the previous fiscal year, with revenue rising 4.71% year-over-year. The company displayed solid profitability with an EBITDA of $1.35 billion. On March 6, Loop Capital upgraded the stock to Buy with a price target of $110. The firm said that the chip company’s post-earnings sell-off of 20% presented a buying opportunity. The drop presents an opportunity to buy a quality name at a deep discount, according to Loop Capital analyst Gary Mobley. In his research note, he recommended that artificial intelligence (AI) will remain a meaningful tailwind for the semiconductor stock moving forward.