10 Best Upside Stocks To Buy Right Now

3. Marvell Technology Inc. (NASDAQ:MRVL)

Upside Potential as of March 10: 69.40%

Number of Hedge Fund Holders: 105

Marvell Technology Inc. (NASDAQ:MRVL) delivers semiconductor solutions for data infrastructure. It enables the core to edge connectivity of data centers and networks. Specializing in complex SoC architectures, it offers a portfolio of Ethernet, electro-optical, storage, and processor technologies.

Wells Fargo analyst Aaron Rakers reiterated a Buy rating on the company on March 6, with a $120 price target. Rakers highlighted the company’s strong alignment with AWS’s next-generation Trainium3 program, which is expected to increase custom XPU revenue. The analyst also noted the company’s confidence in gaining market share within the Data Center segment. Furthermore, the anticipated recovery of its Enterprise Networking and Carrier segments also contributes to this positive outlook.

The company’s data center segment generated a record $1.37 billion in revenue in FQ4 2025, which was an improvement of 78% year-over-year. It was fueled by AI demand and custom silicon programs. Full-year data center revenue grew 88%. Marvell Technology Inc. (NASDAQ:MRVL) exceeded its $1.5 billion AI revenue target and anticipates surpassing $2.5 billion in FY26. Investments in advanced technologies, including 1.6T PAM DSPs and 2-nanometer silicon IP, solidify the company’s market position. Custom AI silicon programs are in high-volume production, with new design wins expected to drive growth.

Artisan Mid Cap Fund is optimistic about Marvell Technology Inc. (NASDAQ:MRVL) due to its strong AI-driven growth potential in data centers and potential for cyclical recovery. Here’s what it stated in its Q4 2024 investor letter:

“Among our top Q4 contributors were Atlassian, Spotify and Marvell Technology, Inc. (NASDAQ:MRVL). Marvell Technology is a semiconductor company offering networking, secure data processing and storage solutions to customers worldwide. We believe Marvell has among the broadest range of intellectual property in technological areas (e.g., high-bandwidth data switching and storage applications) that position it well for the growing requirements of data centers, wireless networks and autos. The company delivered strong earnings results, driven by the company’s product lines (e.g., custom silicon, optical connectivity and switching) leveraged to AI data center growth. We believe this could be a significant opportunity for the company as it helps design and manufacture cost-effective custom data center chips that would help reduce cloud providers’ reliance on expensive GPUs. Furthermore, like many other semiconductor companies, a portion of its business may bepoised for a cyclical recovery after the industry’s recent inventory correction.”