Rhumbline Advisers Cuts Position in Cavium, Inc. (CAVM)
Rhumbline Advisers cut its position in shares of Cavium, Inc. (NASDAQ:CAVM) by 4.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 76,930 shares of the semiconductor provider’s stock after selling 3,260 shares during the period. Rhumbline Advisers owned about 0.11% of Cavium worth $4,780,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the stock. IFP Advisors Inc boosted its stake in shares of Cavium by 6.9% in the first quarter. IFP Advisors Inc now owns 1,559 shares of the semiconductor provider’s stock worth $112,000 after buying an additional 101 shares during the last quarter. US Bancorp DE boosted its position in Cavium by 85.1% in the first quarter. US Bancorp DE now owns 1,888 shares of the semiconductor provider’s stock valued at $135,000 after buying an additional 868 shares during the last quarter. Solaris Asset Management LLC boosted its position in Cavium by 43.4% in the second quarter. Solaris Asset Management LLC now owns 2,295 shares of the semiconductor provider’s stock valued at $143,000 after buying an additional 695 shares during the last quarter. Bluestein R H & Co. bought a new position in Cavium during the first quarter valued at approximately $215,000. Finally, FNY Partners Fund LP boosted its position in Cavium by 1.2% in the first quarter. FNY Partners Fund LP now owns 3,400 shares of the semiconductor provider’s stock valued at $243,000 after buying an additional 40 shares during the last quarter. 98.25% of the stock is owned by institutional investors and hedge funds.
Cavium, Inc. (NASDAQ CAVM) opened at 63.78 on Friday. The firm’s market cap is $4.39 billion. Cavium, Inc. has a 12 month low of $50.30 and a 12 month high of $76.26. The company has a 50-day moving average price of $62.37 and a 200 day moving average price of $67.41.
Cavium (NASDAQ:CAVM) last released its quarterly earnings results on Wednesday, August 2nd. The semiconductor provider reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.02. The company had revenue of $242.09 million for the quarter, compared to analysts’ expectations of $238.93 million. Cavium had a positive return on equity of 5.94% and a negative net margin of 22.82%. The business’s revenue for the quarter was up 125.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 earnings per share. Equities research analysts anticipate that Cavium, Inc. will post $2.79 EPS for the current year.
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Several research analysts recently commented on the company. Loop Capital reissued a “buy” rating and set a $81.00 target price on shares of Cavium in a research note on Tuesday, August 22nd. KeyCorp reissued a “hold” rating on shares of Cavium in a research note on Friday. MKM Partners reissued a “buy” rating and set a $81.00 target price on shares of Cavium in a research note on Wednesday, August 16th. Canaccord Genuity reissued a “hold” rating and set a $66.00 target price on shares of Cavium in a research note on Tuesday, August 15th. Finally, Zacks Investment Research cut Cavium from a “hold” rating to a “strong sell” rating in a research note on Monday, August 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $77.13.
In other news, COO Muhammad Raghib Hussain sold 20,000 shares of Cavium stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $61.85, for a total transaction of $1,237,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 4.65% of the company’s stock.
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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