Tudor Investment Corp ET AL purchased a new stake in shares of Cavium, Inc. (NASDAQ:CAVM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,663 shares of the semiconductor provider’s stock, valued at approximately $228,000.
Several other hedge funds have also recently bought and sold shares of CAVM. US Bancorp DE raised its position in shares of Cavium by 85.1% during the 1st quarter. US Bancorp DE now owns 1,888 shares of the semiconductor provider’s stock valued at $135,000 after acquiring an additional 868 shares in the last quarter. Solaris Asset Management LLC raised its position in shares of Cavium by 43.4% during the 2nd quarter. Solaris Asset Management LLC now owns 2,295 shares of the semiconductor provider’s stock valued at $143,000 after acquiring an additional 695 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Cavium by 107.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,579 shares of the semiconductor provider’s stock valued at $160,000 after acquiring an additional 1,335 shares in the last quarter. Pacad Investment Ltd. raised its position in shares of Cavium by 42.3% during the 2nd quarter. Pacad Investment Ltd. now owns 3,700 shares of the semiconductor provider’s stock valued at $230,000 after acquiring an additional 1,100 shares in the last quarter. Finally, D.A. Davidson & CO. raised its position in shares of Cavium by 3.5% during the 2nd quarter. D.A. Davidson & CO. now owns 3,768 shares of the semiconductor provider’s stock valued at $234,000 after acquiring an additional 129 shares in the last quarter. 98.19% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cavium, Inc. (CAVM) opened at 69.46 on Wednesday. The firm’s market capitalization is $4.78 billion. Cavium, Inc. has a 12 month low of $50.81 and a 12 month high of $76.26. The firm’s 50-day moving average price is $65.61 and its 200-day moving average price is $66.79.
Cavium (NASDAQ:CAVM) last released its earnings results on Wednesday, August 2nd. The semiconductor provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.02. Cavium had a positive return on equity of 5.94% and a negative net margin of 22.82%. The business had revenue of $242.09 million for the quarter, compared to analyst estimates of $238.93 million. During the same quarter in the prior year, the company posted $0.29 earnings per share. Cavium’s revenue was up 125.8% on a year-over-year basis. On average, equities analysts anticipate that Cavium, Inc. will post $2.79 earnings per share for the current year.
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Several equities research analysts recently issued reports on the company. BidaskClub raised Cavium from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. KeyCorp reissued a “buy” rating and set a $80.00 price target on shares of Cavium in a research report on Tuesday. Canaccord Genuity reaffirmed a “hold” rating and issued a $66.00 target price on shares of Cavium in a research report on Tuesday, August 15th. Zacks Investment Research lowered Cavium from a “hold” rating to a “strong sell” rating in a research report on Monday, August 7th. Finally, Pacific Crest reaffirmed an “equal weight” rating on shares of Cavium in a research report on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $78.13.
In other news, COO Muhammad Raghib Hussain sold 20,000 shares of the stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. 4.65% of the stock is owned by corporate insiders.
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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