California State Teachers Retirement System trimmed its holdings in Cavium, Inc. (NASDAQ:CAVM) by 7.6% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 117,403 shares of the semiconductor provider’s stock after selling 9,696 shares during the period. California State Teachers Retirement System owned 0.17% of Cavium worth $7,294,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Solaris Asset Management LLC increased its stake in shares of Cavium by 43.4% during the second quarter. Solaris Asset Management LLC now owns 2,295 shares of the semiconductor provider’s stock worth $143,000 after acquiring an additional 695 shares during the period. BNP Paribas Arbitrage SA grew its position in Cavium by 107.3% during the second quarter. BNP Paribas Arbitrage SA now owns 2,579 shares of the semiconductor provider’s stock worth $160,000 after buying an additional 1,335 shares during the period. Tudor Investment Corp ET AL acquired a new position in Cavium during the second quarter worth about $228,000. Pacad Investment Ltd. grew its position in Cavium by 42.3% during the second quarter. Pacad Investment Ltd. now owns 3,700 shares of the semiconductor provider’s stock worth $230,000 after buying an additional 1,100 shares during the period. Finally, D.A. Davidson & CO. grew its position in Cavium by 3.5% during the second quarter. D.A. Davidson & CO. now owns 3,768 shares of the semiconductor provider’s stock worth $234,000 after buying an additional 129 shares during the period. 99.11% of the stock is owned by institutional investors and hedge funds.
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In related news, COO Muhammad Raghib Hussain sold 20,000 shares of the firm’s stock in a transaction 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.65% of the stock is currently owned by company insiders.
Several research analysts have weighed in on the stock. Jefferies Group LLC set a $79.00 target price on shares of Cavium and gave the stock a “buy” rating in a research report on Thursday, October 19th. MKM Partners restated a “buy” rating and set a $81.00 target price on shares of Cavium in a research report on Wednesday, August 16th. Barclays PLC upgraded shares of Cavium from an “equal weight” rating to an “overweight” rating in a research report on Friday, July 21st. Loop Capital restated a “buy” rating and set a $81.00 target price on shares of Cavium in a research report on Tuesday, August 22nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $78.00 price target on shares of Cavium in a research report on Thursday, November 2nd. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $77.88.
Cavium, Inc. (NASDAQ:CAVM) traded up $1.19 during trading on Friday, hitting $77.35. 718,600 shares of the stock traded hands, compared to its average volume of 891,742. Cavium, Inc. has a 52 week low of $52.35 and a 52 week high of $77.50. The firm has a market capitalization of $5,265.40, a price-to-earnings ratio of 70.52, a P/E/G ratio of 2.75 and a beta of 1.27. The company has a quick ratio of 2.10, a current ratio of 2.87 and a debt-to-equity ratio of 0.81.
Cavium (NASDAQ:CAVM) last released its quarterly earnings data on Wednesday, November 1st. The semiconductor provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.02. The company had revenue of $251.99 million during the quarter, compared to analyst estimates of $250.16 million. Cavium had a negative net margin of 19.94% and a positive return on equity of 11.16%. The business’s quarterly revenue was up 49.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.43 earnings per share. sell-side analysts forecast that Cavium, Inc. will post 1.33 earnings per share for the current fiscal year.
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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