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.