ClearBridge: Marvell Technology Stock Gains on AI Enthusiasm, Crucial Supplier Role

ClearBridge Investments released its Q2 2023 investor letter, highlighting Marvell Technology (MRVL) as a top performer.
MRVL gained from investor enthusiasm for AI and AI-related companies. Its crucial supplier position leaves it well-positioned.
In Q2, MRVL was the top individual performer for ClearBridge's Mid Cap Growth Strategy.
MRVL stock gained 18% over the past year. It has a market cap of $47 billion.
59 hedge funds held MRVL in their portfolios at the end of Q2 2023, down from 62 in the previous quarter.

yahoo.com

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8/25/2023

Marvell Earnings: Accelerating AI Growth and Lingering Market Weakness Lead us to Maintain Valuation

Marvell Technology's fiscal second-quarter results and third-quarter guidance met expectations, with a significant increase in artificial intelligence revenue growth, but delays in recoveries for data center storage and enterprise networking businesses; overall, the company remains well positioned in data center infrastructure and is undervalued.