Cavium, Inc. (CAVM) Shares Sold by JPMorgan Chase & Co.
JPMorgan Chase & Co. cut its holdings in shares of Cavium, Inc. (NASDAQ:CAVM) by 3.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,875,651 shares of the semiconductor provider’s stock after selling 88,699 shares during the quarter. JPMorgan Chase & Co. owned approximately 4.22% of Cavium worth $178,664,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. BlackRock Inc. increased its holdings in Cavium by 64,275.6% in the 1st quarter. BlackRock Inc. now owns 4,382,691 shares of the semiconductor provider’s stock worth $314,065,000 after acquiring an additional 4,375,883 shares during the last quarter. Westfield Capital Management Co. LP increased its holdings in Cavium by 120.4% in the 1st quarter. Westfield Capital Management Co. LP now owns 695,915 shares of the semiconductor provider’s stock worth $49,869,000 after acquiring an additional 380,165 shares during the last quarter. Wellington Management Group LLP increased its holdings in Cavium by 8.1% in the 1st quarter. Wellington Management Group LLP now owns 4,491,559 shares of the semiconductor provider’s stock worth $321,865,000 after acquiring an additional 336,243 shares during the last quarter. Jericho Capital Asset Management L.P. purchased a new stake in Cavium in the 1st quarter worth about $20,835,000. Finally, Gilder Gagnon Howe & Co. LLC increased its holdings in Cavium by 73.6% in the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 628,020 shares of the semiconductor provider’s stock worth $45,004,000 after acquiring an additional 266,300 shares during the last quarter. 98.25% of the stock is owned by hedge funds and other institutional investors.
In related news, COO Muhammad Raghib Hussain sold 20,000 shares of Cavium stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $61.85, for a total value of $1,237,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.65% of the stock is owned by insiders.
Cavium, Inc. (NASDAQ:CAVM) opened at 62.84 on Thursday. Cavium, Inc. has a 12-month low of $50.30 and a 12-month high of $76.26. The firm has a 50-day moving average price of $62.15 and a 200-day moving average price of $67.39. The company’s market cap is $4.32 billion.
Cavium (NASDAQ:CAVM) last issued its quarterly earnings data on Wednesday, August 2nd. The semiconductor provider reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.02. The business had revenue of $242.09 million during 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 company’s revenue for the quarter was up 125.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.29 EPS. On average, analysts forecast that Cavium, Inc. will post $2.79 earnings per share for the current fiscal year.
CAVM has been the subject of several recent research reports. Longbow Research initiated coverage on Cavium in a report on Friday, June 9th. They issued a “buy” rating and a $85.00 price objective for the company. BidaskClub lowered Cavium from a “buy” rating to a “hold” rating in a report on Wednesday, June 14th. Pacific Crest reissued an “equal weight” rating on shares of Cavium in a report on Thursday, June 22nd. Jefferies Group LLC raised Cavium from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $73.00 to $79.00 in a report on Monday, July 10th. Finally, Canaccord Genuity reissued a “hold” rating and issued a $66.00 price objective on shares of Cavium in a report on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $77.13.
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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