Goldman Sachs’ List Of Stocks That Hedge & Mutual Funds Love & Hate: 28 Stocks On The Mutual and Hedge Funds Radar

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

Number of Hedge Fund Holders In Q2 2024: 74

Category: Shorted by HFs and overweight among mutual funds

Marvell Technology, Inc. (NASDAQ:MRVL) is a specialty semiconductor company that focuses primarily on meeting the needs of the data center industry. It does this by selling products such as signal processors, network adapters, storage controllers, and switches. Consequently, as Marvell Technology, Inc. (NASDAQ:MRVL)’s products are key in setting up AI data centers, it’s unsurprising that the stock is up 33.5% year to date. Marvell Technology, Inc. (NASDAQ:MRVL) also benefits from the fact that it develops application specific integrated circuits (ASICs). These are programmable chips that are tailored to run custom workloads, and they are used in AI use cases. Marvell Technology, Inc. (NASDAQ:MRVL) is already working with three customers for its custom AI accelerator chip and could see tailwinds if it expands this particular line of business.

During the Q2 2025 earnings call, Marvell Technology, Inc. (NASDAQ:MRVL)’s management shared details for the custom chips:

“Our AI custom silicon programs are progressing very well, with our first two chips now ramping into volume production.

Development for new custom programs we have already won, including projects with a new Tier 1 AI customer we announced earlier this year, are also tracking well to key milestones. Looking ahead to the third quarter of fiscal 2025 for our data center end market, we are forecasting revenue growth to accelerate into the high teens sequentially on a percentage basis. We expect the largest contributor to this growth will be our AI custom silicon programs as they begin to ramp meaningfully in the third quarter, further augmented by ongoing growth from our optics portfolio.”