14 Stocks That Jim Cramer Recently Talked About

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

Number of Hedge Fund Holders In Q3 2024: 70

Marvell Technology, Inc. (NASDAQ:MRVL) is a semiconductor company that sells chips to the data center industry. The shares are up 115% year-to-date, as they have been driven by the firm’s AI products. Marvell Technology, Inc. (NASDAQ:MRVL) sells systems-on-chips (SoCs), networking products, and communications products. The stock jumped by 23% in December after its third-quarter earnings report that saw Marvell Technology, Inc. (NASDAQ:MRVL) guide $1.80 billion in revenue which was significantly higher than analyst estimates of $1.65 billion. The upbeat earnings were on the back of the roaring demand for custom AI chips that are all the rush in the industry as big tech seeks to shift away from NVIDIA’s expensive and short-in-supply GPUs. Cramer, however, had Marvell Technology, Inc. (NASDAQ:MRVL) on his mind for a different reason. Commenting on the CEO’s recent stock buys, here’s what he said:

“That’s Matt Murphy. He’s just, Matt bought a ton of stock, 40 points ago he was very visible about it, said listen I think the stock is going higher. In terms of visible opportunities where you watch insider buying, there was nothing like this. People didn’t think anything of his million, million dollar buy. People have to understand there are still some things out there that have some wisdom. Like insider buying, you don’t buy for any reason other than you think your stock will go up. You sell for a million reasons David, you only buy for one reason.”