Cubist Systematic Strategies LLC Sells 53,021 Shares of Cavium, Inc. (CAVM)
Cubist Systematic Strategies LLC lowered its stake in Cavium, Inc. (NASDAQ:CAVM) by 64.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,605 shares of the semiconductor provider’s stock after selling 53,021 shares during the period. Cubist Systematic Strategies LLC’s holdings in Cavium were worth $1,952,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BNP Paribas Arbitrage SA lifted its stake in Cavium by 107.3% in the second quarter. BNP Paribas Arbitrage SA now owns 2,579 shares of the semiconductor provider’s stock worth $160,000 after purchasing an additional 1,335 shares during the last quarter. World Asset Management Inc bought a new stake in Cavium in the third quarter worth about $203,000. Tudor Investment Corp ET AL bought a new stake in Cavium in the second quarter worth about $228,000. Pacad Investment Ltd. lifted its stake in Cavium by 42.3% in the second quarter. Pacad Investment Ltd. now owns 3,700 shares of the semiconductor provider’s stock worth $230,000 after purchasing an additional 1,100 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its stake in Cavium by 3.5% in the second quarter. D.A. Davidson & CO. now owns 3,768 shares of the semiconductor provider’s stock worth $234,000 after purchasing an additional 129 shares during the last quarter.
Cavium, Inc. (NASDAQ:CAVM) opened at $84.01 on Friday. The stock has a market cap of $5,850.00, a P/E ratio of 79.40, a P/E/G ratio of 3.45 and a beta of 1.36. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.27 and a current ratio of 2.87. Cavium, Inc. has a 1-year low of $56.96 and a 1-year high of $88.96.
Cavium (NASDAQ:CAVM) last released its quarterly earnings results on Wednesday, November 1st. The semiconductor provider reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.02. Cavium had a negative net margin of 19.94% and a positive return on equity of 11.16%. The business had revenue of $251.99 million for the quarter, compared to analyst estimates of $250.16 million. During the same period in the previous year, the company earned $0.43 earnings per share. The business’s revenue for the quarter was up 49.9% on a year-over-year basis. equities analysts predict that Cavium, Inc. will post 1.33 EPS for the current year.
In other Cavium news, VP Anil Kumar Jain sold 8,500 shares of Cavium stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $85.90, for a total value of $730,150.00. Following the transaction, the vice president now directly owns 91,616 shares of the company’s stock, valued at $7,869,814.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Vincent P. Pangrazio sold 15,000 shares of Cavium stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 60,039 shares in the company, valued at $4,636,211.58. The disclosure for this sale can be found here. 4.65% of the stock is currently owned by insiders.
CAVM has been the subject of several research analyst reports. Jefferies Group set a $79.00 price target on shares of Cavium and gave the company a “buy” rating in a research note on Thursday, October 19th. Morgan Stanley decreased their price target on shares of Cavium from $78.00 to $77.00 and set an “overweight” rating for the company in a research note on Thursday, November 2nd. KeyCorp reaffirmed a “positive” rating and set a $90.00 price target (up previously from $80.00) on shares of Cavium in a research note on Thursday, November 16th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Cavium from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $75.00 price target on shares of Cavium in a research note on Thursday, September 14th. Eleven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $78.41.
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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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