Do You Believe in the Growth Prospects of Marvell Technology (MRVL)?

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Mid Cap Growth Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the mid-cap stocks posted solid gains. On the other hand, its full-year returns were disappointing. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Carillon Tower Advisors highlighted stocks like Marvell Technology, Inc. (NASDAQ:MRVL) in the Q4 2022 investor letter. Headquartered in Wilmington, Delaware, Marvell Technology, Inc. (NASDAQ:MRVL) is a technology company. On January 16, 2023, Marvell Technology, Inc. (NASDAQ:MRVL) stock closed at $40.67 per share. One-month return of Marvell Technology, Inc. (NASDAQ:MRVL) was 9.93%, and its shares lost 32.75% of their value over the last 52 weeks. Marvell Technology, Inc. (NASDAQ:MRVL) has a market capitalization of $34.7 billion.

Carillon Tower Advisors made the following comment about Marvell Technology, Inc. (NASDAQ:MRVL) in its Q4 2022 investor letter:

“Marvell Technology, Inc. (NASDAQ:MRVL) provides infrastructure semiconductor solutions. Investors are concerned about the semiconductor cycle and how demand for Marvell’s products will fare in a slowing economic environment. We remain confident that the company’s portfolio of products is highly important in parts of the datacenter server market and note that the company recently has secured strong wins with large technology companies to use its products. The company also benefits from 5G wireless infrastructure build-outs that remain on pace and are generally insulated from macroeconomic pressures. With supply chain issues easing, we believe Marvell remains in a strong position to post healthy growth in 2023.”

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Marvell Technology, Inc. (NASDAQ:MRVL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 58 hedge fund portfolios held Marvell Technology, Inc. (NASDAQ:MRVL) at the end of the third quarter, and 63 in the previous quarter.

We discussed Marvell Technology, Inc. (NASDAQ:MRVL) in another article and shared the best buy-the-dip stocks to buy. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.