Kassirer Asset Management Corp Buys Shares of 55,000 Cavium Inc (CAVM)
Kassirer Asset Management Corp bought a new stake in shares of Cavium Inc (NASDAQ:CAVM) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 55,000 shares of the semiconductor provider’s stock, valued at approximately $4,611,000. Cavium comprises approximately 4.7% of Kassirer Asset Management Corp’s investment portfolio, making the stock its 5th biggest holding.
Other large investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in Cavium during the 4th quarter valued at $115,000. Cerebellum GP LLC acquired a new position in Cavium during the 4th quarter valued at $126,000. US Bancorp DE raised its stake in Cavium by 201.3% during the 4th quarter. US Bancorp DE now owns 1,657 shares of the semiconductor provider’s stock valued at $139,000 after purchasing an additional 1,107 shares during the last quarter. World Asset Management Inc acquired a new position in Cavium during the 3rd quarter valued at $203,000. Finally, Comerica Bank acquired a new position in Cavium during the 4th quarter valued at $227,000. Hedge funds and other institutional investors own 98.90% of the company’s stock.
Cavium Inc (CAVM) opened at $84.66 on Wednesday. The company has a quick ratio of 2.27, a current ratio of 2.87 and a debt-to-equity ratio of 0.81. Cavium Inc has a one year low of $56.96 and a one year high of $90.83. The stock has a market cap of $5,864.45, a price-to-earnings ratio of -83.00, a PEG ratio of 2.09 and a beta of 1.33.
In other news, VP Anil Kumar Jain sold 8,500 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $85.90, for a total value of $730,150.00. Following the sale, the vice president now owns 91,616 shares of the company’s stock, valued at approximately $7,869,814.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Vincent P. Pangrazio sold 15,000 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now directly owns 60,039 shares in the company, valued at approximately $4,636,211.58. The disclosure for this sale can be found here. 4.65% of the stock is currently owned by corporate insiders.
Several equities analysts recently commented on CAVM shares. Jefferies Group set a $79.00 target price on shares of Cavium and gave the company a “buy” rating in a research note on Thursday, October 19th. Morgan Stanley dropped their price objective 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 restated a “positive” rating and issued a $90.00 price objective (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 cut shares of Cavium from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Finally, Loop Capital restated a “buy” rating and issued a $81.00 price objective on shares of Cavium in a research note on Thursday, November 2nd. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $80.25.
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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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