Bank of Nova Scotia reduced its Marvell Technology (MRVL) position by 91.4%. The bank sold 792,274 shares during the period. It now retains 74,945 shares valued at approximately $7.4 million.
Institutional investors and hedge funds still control 83.51% of the company. Company insiders sold 45,981 shares over the last quarter.
Analysts maintain a Moderate Buy consensus rating on Marvell stock. The average price target is currently $245.45.
Marvell reported 27.6% year-over-year revenue growth. The company continues to benefit from high demand for AI data-center networking.