Legal & General Group Plc raised its stake in shares of Cavium, Inc. (NASDAQ:CAVM) by 4.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,341 shares of the semiconductor provider’s stock after buying an additional 875 shares during the period. Legal & General Group Plc’s holdings in Cavium were worth $1,598,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the stock. Renaissance Technologies LLC acquired a new stake in Cavium during the fourth quarter valued at approximately $2,088,000. Norges Bank acquired a new stake in Cavium during the fourth quarter valued at approximately $22,342,000. Quadrature Capital Ltd boosted its stake in Cavium by 49.4% in the fourth quarter. Quadrature Capital Ltd now owns 36,983 shares of the semiconductor provider’s stock valued at $2,309,000 after buying an additional 12,231 shares during the period. Teachers Advisors LLC boosted its stake in Cavium by 0.8% in the fourth quarter. Teachers Advisors LLC now owns 335,296 shares of the semiconductor provider’s stock valued at $20,936,000 after buying an additional 2,600 shares during the period. Finally, New England Research & Management Inc. boosted its stake in Cavium by 53.7% in the first quarter. New England Research & Management Inc. now owns 5,050 shares of the semiconductor provider’s stock valued at $362,000 after buying an additional 1,764 shares during the period.

Cavium, Inc. (NASDAQ CAVM) opened at 66.57 on Friday. Cavium, Inc. has a 52-week low of $42.22 and a 52-week high of $76.26. The company’s 50-day moving average price is $66.62 and its 200 day moving average price is $68.03. The firm’s market capitalization is $4.52 billion.

Cavium (NASDAQ:CAVM) last announced its earnings results on Wednesday, April 26th. The semiconductor provider reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.29 by $0.09. Cavium had a negative net margin of 26.52% and a positive return on equity of 4.05%. The business had revenue of $229.58 million for the quarter, compared to the consensus estimate of $227.22 million. During the same quarter in the previous year, the company earned $0.25 EPS. Cavium’s revenue for the quarter was up 125.3% compared to the same quarter last year. Equities research analysts predict that Cavium, Inc. will post $2.78 earnings per share for the current year.

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Several analysts have commented on CAVM shares. Macquarie started coverage on Cavium in a report on Thursday, March 30th. They issued an “outperform” rating and a $85.00 price target for the company. Needham & Company LLC restated a “buy” rating and issued a $78.00 price target (up previously from $77.00) on shares of Cavium in a report on Thursday, April 27th. Stifel Nicolaus lifted their price target on Cavium from $55.00 to $66.00 and gave the company a “hold” rating in a report on Thursday, April 27th. Jefferies Group LLC restated a “hold” rating and issued a $73.00 price target (up previously from $69.00) on shares of Cavium in a report on Thursday, April 27th. Finally, Morgan Stanley lifted their price target on Cavium from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, April 28th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $73.50.

In related news, VP Arthur D. Chadwick sold 40,000 shares of the stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $75.14, for a total transaction of $3,005,600.00. Following the completion of the sale, the vice president now owns 75,383 shares in the company, valued at approximately $5,664,278.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Vincent P. Pangrazio sold 15,000 shares of the stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $75.73, for a total value of $1,135,950.00. Following the sale, the senior vice president now owns 60,039 shares of the company’s stock, valued at approximately $4,546,753.47. The disclosure for this sale can be found here. 4.65% of the stock is owned by corporate insiders.

About Cavium

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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Institutional Ownership by Quarter for Cavium (NASDAQ:CAVM)

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