Artisan Partners, an investment management company, released its “Artisan Mid Cap Fund” fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. In the fourth quarter, the fund’s Investor Class fund ARTMX returned 5.11%, Advisor Class fund APDMX posted a return of 5.14%, and Institutional Class fund APHMX returned 5.14%, compared to an 8.14% return for the Russell Midcap Growth Index. US equities achieved solid Q4 gains, concluding a strong year. Following Donald Trump’s election win, optimism surged over deregulation and tax cuts. However, concerns about inflation from proposed tariffs and immigration policies emerged in December, introducing market volatility. Despite this, markets ended 2024 with strong gains, marking one of the best two-year performance stretches in decades. In addition, please check the fund’s top five holdings to know its best picks in 2024.
In its fourth quarter 2024 investor letter, Artisan Mid Cap Fund emphasized stocks such as Marvell Technology, Inc. (NASDAQ:MRVL). Marvell Technology, Inc. (NASDAQ:MRVL) offers data infrastructure semiconductor solutions, spanning the data center core to the network edge. The one-month return of Marvell Technology, Inc. (NASDAQ:MRVL) was -21.75%, and its shares gained 9.02% of their value over the last 52 weeks. On March 3, 2025, Marvell Technology, Inc. (NASDAQ:MRVL) stock closed at $85.83 per share with a market capitalization of $79.452 billion.
Artisan Mid Cap Fund stated the following regarding Marvell Technology, Inc. (NASDAQ:MRVL) in its Q4 2024 investor letter:
“Among our top Q4 contributors were Atlassian, Spotify and Marvell Technology, Inc. (NASDAQ:MRVL). Marvell Technology is a semiconductor company offering networking, secure data processing and storage solutions to customers worldwide. We believe Marvell has among the broadest range of intellectual property in technological areas (e.g., high-bandwidth data switching and storage applications) that position it well for the growing requirements of data centers, wireless networks and autos. The company delivered strong earnings results, driven by the company’s product lines (e.g., custom silicon, optical connectivity and switching) leveraged to AI data center growth. We believe this could be a significant opportunity for the company as it helps design and manufacture cost-effective custom data center chips that would help reduce cloud providers’ reliance on expensive GPUs. Furthermore, like many other semiconductor companies, a portion of its business may bepoised for a cyclical recovery after the industry’s recent inventory correction.”
An assembly line in a semiconductor factory, with workers at their stations.
Marvell Technology, Inc. (NASDAQ:MRVL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 105 hedge fund portfolios held Marvell Technology, Inc. (NASDAQ:MRVL) at the end of the fourth quarter compared to 70 in the third quarter. While we acknowledge the potential of Marvell Technology, Inc. (NASDAQ:MRVL) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed Marvell Technology, Inc. (NASDAQ:MRVL) and shared ClearBridge Mid Cap Strategy’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2024 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.