5 Best Stocks To Buy According To Josh Resnick’s Jericho Capital Asset Management

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

Jericho Capital Asset Management’s Stake Value: $274.6 million
Percentage of Jericho Capital Asset Management’s 13F Portfolio: 6.5%
Number of Hedge Fund Holders: 51

Marvell Technology, Inc. (NASDAQ:MRVL) is a Delaware-based company that develops and produces semiconductors, offering a broad portfolio of data infrastructure semiconductor solutions that spans computing, networking, security and storage.

As of Q2 2021, Josh Resnick’s hedge fund reported holding 4.7 million shares of Marvell Technology, Inc. (NASDAQ:MRVL). These shares are valued at $274.6 million and represent 6.5% of his fund’s investment portfolio. At the end of the second quarter of 2021, 51 hedge funds in the database of Insider Monkey held stakes worth $1.3 billion in Marvell Technology, Inc. (NASDAQ:MRVL), up from 33 in the previous quarter worth $683 million.

On October 7, Needham analyst N. Quinn Bolton raised the price target on Marvell Technology, Inc. (NASDAQ:MRVL) to $75 from $69, and kept a Buy rating on the shares of the company.

In the Q2 2021 investor letter of ClearBridge Investmenst, the fund mentioned Marvell Technology, Inc. (NASDAQ:MRVL). Here is what the fund had to say:

“We also gained shares of Marvell Technology, a fabless designer of analog and digital semiconductors, switches, controllers and storage solutions, following the closure of its acquisition of portfolio holding Inphi. The deal expands Marvell’s reach into the networking, cloud and telecom markets.”