Cavium, Inc. (CAVM) Shares Bought by Summit Creek Advisors LLC
Summit Creek Advisors LLC grew its position in Cavium, Inc. (NASDAQ:CAVM) by 23.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 197,850 shares of the semiconductor provider’s stock after acquiring an additional 37,245 shares during the quarter. Cavium comprises 2.6% of Summit Creek Advisors LLC’s holdings, making the stock its 7th largest position. Summit Creek Advisors LLC owned 0.29% of Cavium worth $13,046,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd lifted its position in shares of Cavium by 101.9% in the second quarter. Dynamic Technology Lab Private Ltd now owns 9,494 shares of the semiconductor provider’s stock valued at $590,000 after acquiring an additional 4,791 shares in the last quarter. Wasatch Advisors Inc. lifted its position in shares of Cavium by 3.9% in the second quarter. Wasatch Advisors Inc. now owns 2,581,155 shares of the semiconductor provider’s stock valued at $160,367,000 after acquiring an additional 98,066 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Cavium by 35.5% in the second quarter. Public Employees Retirement System of Ohio now owns 180,669 shares of the semiconductor provider’s stock valued at $11,225,000 after acquiring an additional 47,378 shares in the last quarter. Verition Fund Management LLC purchased a new position in shares of Cavium in the second quarter valued at approximately $320,000. Finally, Nomura Holdings Inc. purchased a new position in shares of Cavium in the second quarter valued at approximately $909,000. Institutional investors and hedge funds own 98.19% of the company’s stock.
In other Cavium news, COO Muhammad Raghib Hussain sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $61.85, for a total value of $1,237,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 4.65% of the company’s stock.
Cavium, Inc. (NASDAQ CAVM) traded up 0.23% during mid-day trading on Monday, hitting $69.07. The stock had a trading volume of 46,721 shares. The firm’s market cap is $4.75 billion. Cavium, Inc. has a 12-month low of $50.81 and a 12-month high of $76.26. The company has a 50-day moving average of $66.55 and a 200-day moving average of $66.77.
Cavium (NASDAQ:CAVM) last issued its quarterly earnings results on Wednesday, August 2nd. The semiconductor provider reported $0.67 EPS for the quarter, topping the consensus estimate 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 business had revenue of $242.09 million for the quarter, compared to analysts’ expectations of $238.93 million. During the same quarter last year, the company posted $0.29 earnings per share. The company’s quarterly revenue was up 125.8% compared to the same quarter last year. Analysts expect that Cavium, Inc. will post $2.79 earnings per share for the current year.
Several equities analysts have recently weighed in on the company. Jefferies Group LLC set a $79.00 target price on Cavium and gave the company a “buy” rating in a research report on Thursday. Stifel Nicolaus restated a “hold” rating and issued a $66.00 target price on shares of Cavium in a research report on Thursday, October 12th. KeyCorp restated a “buy” rating and issued a $80.00 target price on shares of Cavium in a research report on Tuesday, October 17th. Barclays PLC upgraded Cavium from an “equal weight” rating to an “overweight” rating in a research report on Friday, July 21st. Finally, Bank of America Corporation restated a “buy” rating on shares of Cavium in a research report on Sunday, October 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $78.13.
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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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