Mutual of America Capital Management LLC Has $2.27 Million Stake in Cavium, Inc. (CAVM)
Mutual of America Capital Management LLC reduced its stake in Cavium, Inc. (NASDAQ:CAVM) by 64.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,559 shares of the semiconductor provider’s stock after selling 65,209 shares during the period. Mutual of America Capital Management LLC owned approximately 0.05% of Cavium worth $2,272,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in CAVM. First Trust Advisors LP acquired a new position in shares of Cavium in the 1st quarter worth approximately $274,000. US Bancorp DE lifted its position in shares of Cavium by 85.1% during the 1st quarter. US Bancorp DE now owns 1,888 shares of the semiconductor provider’s stock worth $135,000 after buying an additional 868 shares during the period. Karp Capital Management Corp acquired a new stake in Cavium in the 1st quarter valued at $594,000. Sei Investments Co. boosted its stake in Cavium by 98.2% in the 1st quarter. Sei Investments Co. now owns 27,159 shares of the semiconductor provider’s stock valued at $1,946,000 after buying an additional 13,455 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Cavium by 187.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 11,975 shares of the semiconductor provider’s stock valued at $860,000 after buying an additional 7,805 shares in the last quarter. Institutional investors own 98.38% of the company’s stock.
Cavium, Inc. (NASDAQ:CAVM) opened at 69.08 on Tuesday. The company’s market capitalization is $4.75 billion. The firm has a 50-day moving average price of $63.51 and a 200-day moving average price of $66.97. Cavium, Inc. has a 12 month low of $50.81 and a 12 month high of $76.26.
Cavium (NASDAQ:CAVM) last posted its earnings results on Wednesday, August 2nd. The semiconductor provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.02. Cavium had a negative net margin of 22.82% and a positive return on equity of 5.94%. The firm had revenue of $242.09 million during the quarter, compared to analysts’ expectations of $238.93 million. During the same quarter in the prior year, the business earned $0.29 earnings per share. The business’s revenue for the quarter was up 125.8% compared to the same quarter last year. On average, equities analysts anticipate that Cavium, Inc. will post $2.79 earnings per share for the current fiscal year.
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A number of analysts have weighed in on CAVM shares. BidaskClub cut Cavium from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. MKM Partners reiterated a “buy” rating and set a $81.00 price objective on shares of Cavium in a research note on Wednesday, August 16th. Barclays PLC raised Cavium from an “equal weight” rating to an “overweight” rating in a report on Friday, July 21st. Loop Capital reissued a “buy” rating and set a $81.00 price objective on shares of Cavium in a report on Tuesday, August 22nd. Finally, Canaccord Genuity reissued a “hold” rating on shares of Cavium in a report on Friday, August 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the stock. Cavium currently has an average rating of “Buy” and a consensus price target of $77.94.
In related news, COO Muhammad Raghib Hussain sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were 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 Securities & Exchange Commission, which is available through this link. 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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