Cavium, Inc. (CAVM) Holdings Trimmed by Wasatch Advisors Inc.
Wasatch Advisors Inc. cut its holdings in shares of Cavium, Inc. (NASDAQ:CAVM) by 8.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,360,626 shares of the semiconductor provider’s stock after selling 220,529 shares during the period. Cavium makes up approximately 2.1% of Wasatch Advisors Inc.’s investment portfolio, making the stock its 6th largest holding. Wasatch Advisors Inc. owned 3.43% of Cavium worth $155,660,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of CAVM. Ameriprise Financial Inc. lifted its holdings in Cavium by 42.9% during the third quarter. Ameriprise Financial Inc. now owns 3,425,325 shares of the semiconductor provider’s stock worth $225,867,000 after acquiring an additional 1,027,760 shares in the last quarter. Frontier Capital Management Co. LLC lifted its holdings in Cavium by 581.0% during the third quarter. Frontier Capital Management Co. LLC now owns 820,499 shares of the semiconductor provider’s stock worth $54,104,000 after acquiring an additional 700,015 shares in the last quarter. Jennison Associates LLC lifted its holdings in Cavium by 50.6% during the third quarter. Jennison Associates LLC now owns 1,939,958 shares of the semiconductor provider’s stock worth $127,921,000 after acquiring an additional 652,177 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Cavium by 164.3% during the third quarter. Bank of New York Mellon Corp now owns 661,218 shares of the semiconductor provider’s stock worth $43,601,000 after acquiring an additional 411,033 shares in the last quarter. Finally, Fred Alger Management Inc. lifted its holdings in Cavium by 36.2% during the second quarter. Fred Alger Management Inc. now owns 1,275,464 shares of the semiconductor provider’s stock worth $79,245,000 after acquiring an additional 339,019 shares in the last quarter.
Cavium, Inc. (NASDAQ:CAVM) traded up $8.19 during trading hours on Tuesday, hitting $84.02. The company had a trading volume of 18,166,900 shares, compared to its average volume of 962,642. The firm has a market capitalization of $5,240.00, a P/E ratio of 70.21, a P/E/G ratio of 2.74 and a beta of 1.27. The company has a current ratio of 2.87, a quick ratio of 2.27 and a debt-to-equity ratio of 0.81. Cavium, Inc. has a twelve month low of $53.73 and a twelve month high of $84.41.
Cavium (NASDAQ:CAVM) last announced its quarterly earnings results on Wednesday, November 1st. The semiconductor provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. The firm had revenue of $251.99 million for the quarter, compared to the consensus estimate of $250.16 million. Cavium had a positive return on equity of 11.16% and a negative net margin of 19.94%. The business’s revenue was up 49.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.43 earnings per share. research analysts anticipate that Cavium, Inc. will post 1.33 EPS for the current year.
In other Cavium news, SVP Vincent P. Pangrazio sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $77.22, for a total transaction of $1,158,300.00. Following the transaction, the senior vice president now owns 60,039 shares of the company’s stock, valued at $4,636,211.58. The sale was disclosed in a document filed with the SEC, which is available through this link. 4.65% of the stock is owned by insiders.
A number of brokerages have recently commented on CAVM. Jefferies Group LLC set a $79.00 price target on Cavium and gave the company a “buy” rating in a report on Thursday, October 19th. Morgan Stanley cut their price target on Cavium from $78.00 to $77.00 and set an “overweight” rating on the stock in a report on Thursday, November 2nd. Raymond James Financial, Inc. restated an “outperform” rating and issued a $75.00 price target on shares of Cavium in a report on Thursday, September 14th. Stifel Nicolaus restated a “hold” rating and issued a $66.00 price target on shares of Cavium in a report on Thursday, October 12th. Finally, Loop Capital restated a “buy” rating and issued a $81.00 price target on shares of Cavium in a report on Thursday, November 2nd. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $80.56.
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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