Kim Bolton Marvell Technology Group MRVL-Q TRADE Jan 24, 2024

They are doing everything right, but face very good competition. This gets no credit in data centres.

A year ago, everyone was trying to find the next best thing to NVDA. System-on-a-chip puts chips out closer to the data, a nice niche. 12-month price target of $112.50, great runway.

Semiconductors, broadly, have become like shooting fish in a barrel since ChapGPT made its debut in late 2022. All are pretty cyclical. Likes others better, such as NVDA and AVGO.

Interesting company. Big issue on semi demand is really the Chip Act, how it applies to China, and what it does to demand for everyone else. China will be looking to increase market share. You want bigger and better, so he'd probably rather own AVGO.

Good to buy at current levels. They last delivered a good quarter apart from one glitch with a customer.

The market didn't like their quarter and sold it, but it's wrong. He likes that the stock bounced at $60 and is up to $71 today.

He targets $108. They just beat top and bottom lines and raised guidance. They delivered record Q1 revenue, a 63% pop YOY. Are running on all cylinders. Strong momentum.

Doesn't own because of the cyclical industry. If you get the timing right, can do very well. He likes companies with an economic moat such as TSM, and he's considering ASML.

System-on-a-chip architecture is very attractive to Edge AI. Memory business makes it a bit of a cyclical stock. 12-month price target of $90.50. The tech arena may not be frothy, but it isn't cheap, and this one is good value.

It hasn't recovered, unlike the bigger semis companies like NVDA. Not his favourite in this space. KLIC is much better, and both are the same trade.