10 Hot AI Stocks to Watch 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 February 25, Susquehanna analyst Christopher Rolland reiterated a “Buy” rating on the stock and kept the price target at $140.00. The firm is optimistic about Marvell’s promising growth prospects and market opportunities, particularly the benefit it will reap from the growing demand for AI and custom ASIC products, motivated by strong hyperscale capital expenditure plans.

Spending by major hyperscalers is also expected to increase, particularly beneficial for Marvell’s Inphi PAM4 DSPs and custom ASIC/AI products. Further growth and power advantages are also expected of the company owing to Marvell’s recent technological advancements, particularly the introduction of 5nm and 3nm DSPs. The custom silicon mix is putting pressure on gross margins, but the overall outlook on the stock remains positive.