Frontier Capital Management Co. LLC decreased its position in shares of Cavium, Inc. (NASDAQ:CAVM) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 149,356 shares of the semiconductor provider’s stock after selling 2,847 shares during the period. Frontier Capital Management Co. LLC’s holdings in Cavium were worth $9,326,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. First Mercantile Trust Co. bought a new position in shares of Cavium during the third quarter worth about $106,000. BNP Paribas Arbitrage SA increased its position in Cavium by 9.8% in the third quarter. BNP Paribas Arbitrage SA now owns 5,700 shares of the semiconductor provider’s stock valued at $332,000 after buying an additional 509 shares during the last quarter. Royal Bank of Canada increased its position in Cavium by 72.3% in the second quarter. Royal Bank of Canada now owns 1,151,942 shares of the semiconductor provider’s stock valued at $44,465,000 after buying an additional 483,391 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in Cavium by 20.3% in the second quarter. Public Employees Retirement System of Ohio now owns 71,060 shares of the semiconductor provider’s stock valued at $2,743,000 after buying an additional 11,983 shares during the last quarter. Finally, Amalgamated Bank increased its position in Cavium by 2.1% in the second quarter. Amalgamated Bank now owns 5,945 shares of the semiconductor provider’s stock valued at $300,000 after buying an additional 120 shares during the last quarter.
Cavium, Inc. (NASDAQ:CAVM) traded down 0.87% during trading on Tuesday, hitting $64.68. The stock had a trading volume of 27,449 shares. The company’s market cap is $4.33 billion. Cavium, Inc. has a one year low of $35.90 and a one year high of $69.13. The firm has a 50 day moving average of $64.19 and a 200-day moving average of $57.76.
Cavium (NASDAQ:CAVM) last released its quarterly earnings data on Wednesday, February 1st. The semiconductor provider reported $0.56 EPS for the quarter, beating the consensus estimate of $0.54 by $0.02. Cavium had a positive return on equity of 2.07% and a negative net margin of 24.40%. The company had revenue of $226.20 million for the quarter, compared to analyst estimates of $224.49 million. During the same period last year, the company posted $0.28 earnings per share. The firm’s revenue was up 124.2% compared to the same quarter last year. Equities analysts anticipate that Cavium, Inc. will post $2.69 earnings per share for the current fiscal year.
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Several research analysts have weighed in on CAVM shares. Zacks Investment Research downgraded Cavium from a “buy” rating to a “hold” rating in a research note on Tuesday, October 18th. Loop Capital started coverage on Cavium in a research note on Monday, December 5th. They issued a “buy” rating and a $66.00 price target for the company. Needham & Company LLC restated a “buy” rating and issued a $66.00 price target on shares of Cavium in a research note on Wednesday, November 2nd. Canaccord Genuity restated a “hold” rating and issued a $60.00 price target on shares of Cavium in a research note on Tuesday, January 31st. Finally, Benchmark Co. upped their price target on Cavium from $63.00 to $69.00 and gave the stock a “buy” rating in a research note on Tuesday, January 24th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Cavium has a consensus rating of “Buy” and a consensus price target of $63.96.
In other Cavium news, SVP Vincent P. Pangrazio sold 25,000 shares of the firm’s stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $66.95, for a total value of $1,673,750.00. Following the transaction, the senior vice president now directly owns 31,970 shares of the company’s stock, valued at $2,140,391.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Syed Ali sold 109,948 shares of the firm’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $54.85, for a total value of $6,030,647.80. Following the completion of the transaction, the chief executive officer now directly owns 1,843,431 shares in the company, valued at $101,112,190.35. The disclosure for this sale can be found here. Insiders sold 159,948 shares of company stock worth $9,316,148 over the last three months. 4.63% of the stock is currently owned by corporate insiders.
Cavium, Inc is a provider of semiconductor processors, which enables processing for wired and wireless networking, communications, storage, cloud, wireless, security, video and connected home and office applications. The Company’s products include OCTEON, OCTEON Fusion, OCTEON XL, LiquidIO, NITROX, NEURON Search, ThunderX, Xpliant and XPA.
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