Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Mid Cap Growth Fund” fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. Mid-cap stocks experienced mixed results in the fourth quarter after reporting positive gains in the previous quarter. The Russell Midcap Growth Index (up 8.14%) outperformed the Russell Midcap Value Index (fell 1.75%) during the quarter. Mid-cap stocks posted solid returns in 2024 similar to 2023. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2024.
Carillon Eagle Mid Cap Growth Fund highlighted stocks like Marvell Technology, Inc. (NASDAQ:MRVL), in the fourth quarter 2024 investor letter. 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 -5.95%, and its shares gained 53.44% of their value over the last 52 weeks. On January 28, 2024, Marvell Technology, Inc. (NASDAQ:MRVL) stock closed at $103.88 per share with a market capitalization of $89.887 billion.
Carillon Eagle Mid Cap Growth Fund stated the following regarding Marvell Technology, Inc. (NASDAQ:MRVL) in its Q4 2024 investor letter:
“Marvell Technology, Inc. (NASDAQ:MRVL) is a leading provider of semiconductor chips for data centers. This past quarter, management highlighted very strong orders coming from customers in the artificial intelligence (AI) space as well as design wins for future AI-related chips. Management shared a long-term view for a revenue target that was above expectation.”
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, 70 hedge fund portfolios held Marvell Technology, Inc. (NASDAQ:MRVL) at the end of the third quarter which was 74 in the previous quarter. In the third quarter of fiscal 2025, Marvell Technology, Inc. (NASDAQ:MRVL) reported $1.516 billion in revenue, $66 million above the guidance, marking a 19% sequential growth driven by strong AI demand. 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 the list of AI stocks to watch amid the DeepSeek buzz. In addition, please check out our hedge fund investor letters Q3 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.