Wall Street’s Top 10 AI Stocks to Watch Right Now

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

Number of Hedge Fund Holders: 105

Marvell Technology, Inc. (NASDAQ:MRVL) engages in the development and production of semiconductors. On March 3, Evercore ISI analyst Mark Lipacis reiterated a “Buy” rating on the stock and set a price target of $135.00. According to the firm, Marvell has strong prospects in artificial intelligence (AI) networking, and a potential sales growth is anticipated in the coming quarters.

The investment community may be focused on Marvell’s application-specific integrated circuits (ASICs), but its AI networking products, including 400/800G PAM4 digital signal processors (DSPs), are likely to contribute to revenue growth. The firm also forecasts an expansion in Marvell’s total addressable market (TAM) for AI networking on the back of growing demand for long-distance connectivity solutions and AI-related products such as PCIe retimers.