Cavium, Inc. (CAVM) Shares Sold by Van ECK Associates Corp
Van ECK Associates Corp cut its stake in shares of Cavium, Inc. (NASDAQ:CAVM) by 44.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,746 shares of the semiconductor provider’s stock after selling 44,007 shares during the quarter. Van ECK Associates Corp owned 0.08% of Cavium worth $3,463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently made changes to their positions in the business. FMR LLC lifted its position in Cavium by 1.2% during the first quarter. FMR LLC now owns 10,174,578 shares of the semiconductor provider’s stock valued at $729,110,000 after purchasing an additional 124,068 shares during the last quarter. Vanguard Group Inc. lifted its position in Cavium by 4.3% during the first quarter. Vanguard Group Inc. now owns 5,121,457 shares of the semiconductor provider’s stock valued at $367,004,000 after purchasing an additional 211,144 shares during the last quarter. Wellington Management Group LLP lifted its position in Cavium by 8.1% during the first quarter. Wellington Management Group LLP now owns 4,491,559 shares of the semiconductor provider’s stock valued at $321,865,000 after purchasing an additional 336,243 shares during the last quarter. BlackRock Inc. lifted its position in Cavium by 64,275.6% during the first quarter. BlackRock Inc. now owns 4,382,691 shares of the semiconductor provider’s stock valued at $314,065,000 after purchasing an additional 4,375,883 shares during the last quarter. Finally, State Street Corp lifted its position in Cavium by 3.4% during the first quarter. State Street Corp now owns 1,370,661 shares of the semiconductor provider’s stock valued at $98,221,000 after purchasing an additional 44,456 shares during the last quarter. Institutional investors and hedge funds own 98.38% of the company’s stock.
Cavium, Inc. (NASDAQ:CAVM) opened at 66.50 on Monday. Cavium, Inc. has a 52 week low of $50.81 and a 52 week high of $76.26. The company has a 50 day moving average of $62.03 and a 200 day moving average of $67.26. The stock’s market capitalization is $4.57 billion.
Cavium (NASDAQ:CAVM) last posted its earnings results on Wednesday, August 2nd. The semiconductor provider reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.02. The firm had revenue of $242.09 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 125.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.29 EPS. Equities analysts expect that Cavium, Inc. will post $2.79 EPS for the current fiscal year.
Several brokerages have issued reports on CAVM. Longbow Research began coverage on shares of Cavium in a research report on Friday, June 9th. They set a “buy” rating and a $85.00 target price for the company. BidaskClub lowered shares of Cavium from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. Barclays PLC upgraded shares of Cavium from an “equal weight” rating to an “overweight” rating in a research report on Friday, July 21st. Pacific Crest restated an “equal weight” rating on shares of Cavium in a report on Thursday, June 22nd. Finally, Canaccord Genuity restated a “hold” rating and issued a $66.00 price objective on shares of Cavium in a report on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $77.80.
In related news, COO Muhammad Raghib Hussain sold 20,000 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $61.85, for a total value of $1,237,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.65% of the stock is owned by company 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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