First Trust Advisors LP increased its holdings in Cavium, Inc. (NASDAQ:CAVM) by 739.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,108 shares of the semiconductor provider’s stock after purchasing an additional 28,282 shares during the period. First Trust Advisors LP’s holdings in Cavium were worth $1,995,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. IFP Advisors Inc increased its position in Cavium by 6.9% in the first quarter. IFP Advisors Inc now owns 1,559 shares of the semiconductor provider’s stock worth $112,000 after purchasing an additional 101 shares during the last quarter. US Bancorp DE increased its position in Cavium by 85.1% in the first quarter. US Bancorp DE now owns 1,888 shares of the semiconductor provider’s stock worth $135,000 after purchasing an additional 868 shares during the last quarter. Solaris Asset Management LLC increased its position in Cavium by 43.4% in the second quarter. Solaris Asset Management LLC now owns 2,295 shares of the semiconductor provider’s stock worth $143,000 after purchasing an additional 695 shares during the last quarter. Bluestein R H & Co. bought a new stake in Cavium in the first quarter worth $215,000. Finally, FNY Partners Fund LP increased its position in Cavium by 1.2% in the first quarter. FNY Partners Fund LP now owns 3,400 shares of the semiconductor provider’s stock worth $243,000 after purchasing an additional 40 shares during the last quarter. Institutional investors own 98.25% of the company’s stock.
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In other news, COO Muhammad Raghib Hussain sold 20,000 shares of the stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $61.85, for a total transaction of $1,237,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.65% of the company’s stock.
CAVM has been the topic of several research reports. Longbow Research initiated coverage on shares of Cavium in a research report on Friday, June 9th. They issued a “buy” rating and a $85.00 price target on the stock. Jefferies Group LLC upgraded shares of Cavium from a “hold” rating to a “buy” rating and boosted their price target for the stock from $73.00 to $79.00 in a research report on Monday, July 10th. MKM Partners restated a “buy” rating and issued a $81.00 price target on shares of Cavium in a research report on Wednesday, August 16th. Loop Capital restated a “buy” rating and issued a $81.00 price target on shares of Cavium in a research report on Tuesday, August 22nd. Finally, Pacific Crest restated an “equal weight” rating on shares of Cavium in a research report on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $77.13.
Shares of Cavium, Inc. (NASDAQ:CAVM) opened at 62.34 on Tuesday. The stock’s 50 day moving average is $61.71 and its 200-day moving average is $67.32. The stock’s market capitalization is $4.29 billion. Cavium, Inc. has a 52 week low of $50.81 and a 52 week high of $76.26.
Cavium (NASDAQ:CAVM) last released its quarterly earnings results on Wednesday, August 2nd. The semiconductor provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. The business had revenue of $242.09 million during the quarter, compared to analysts’ expectations of $238.93 million. Cavium had a positive return on equity of 5.94% and a negative net margin of 22.82%. The company’s revenue was up 125.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.29 EPS. On average, analysts anticipate that Cavium, Inc. will post $2.79 earnings per share for the current fiscal year.
Cavium Company Profile
Cavium, Inc is a provider of integrated semiconductor processors that enable intelligent processing for wired and wireless infrastructure and cloud for networking, communications, storage and security applications. The Company’s products consist of multi-core processors for embedded and data center applications, network connectivity for server and switches, storage connectivity, and security processors for offload and appliance.
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