Wells Fargo & Company MN lifted its stake in shares of Cavium Inc (NASDAQ:CAVM) by 9.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 348,864 shares of the semiconductor provider’s stock after buying an additional 28,670 shares during the period. Wells Fargo & Company MN owned approximately 0.50% of Cavium worth $23,004,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Ameriprise Financial Inc. lifted its position in Cavium by 42.9% during the third quarter. Ameriprise Financial Inc. now owns 3,425,325 shares of the semiconductor provider’s stock valued at $225,867,000 after purchasing an additional 1,027,760 shares during the period. Frontier Capital Management Co. LLC lifted its position in Cavium by 581.0% during the third quarter. Frontier Capital Management Co. LLC now owns 820,499 shares of the semiconductor provider’s stock valued at $54,104,000 after purchasing an additional 700,015 shares during the period. Jennison Associates LLC lifted its position in Cavium by 50.6% during the third quarter. Jennison Associates LLC now owns 1,939,958 shares of the semiconductor provider’s stock valued at $127,921,000 after purchasing an additional 652,177 shares during the period. JPMorgan Chase & Co. lifted its position in Cavium by 16.6% during the third quarter. JPMorgan Chase & Co. now owns 3,353,670 shares of the semiconductor provider’s stock valued at $217,753,000 after purchasing an additional 478,019 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Cavium by 164.3% during the third quarter. Bank of New York Mellon Corp now owns 661,218 shares of the semiconductor provider’s stock valued at $43,601,000 after purchasing an additional 411,033 shares during the period.
A number of research firms recently issued reports on CAVM. Jefferies Group set a $79.00 target price on shares of Cavium and gave the company a “buy” rating in a research report on Thursday, October 19th. Benchmark downgraded shares of Cavium from a “buy” rating to a “hold” rating in a research report on Monday, November 20th. 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. Needham & Company LLC restated a “buy” rating and set a $78.00 target price on shares of Cavium in a research report on Thursday, November 2nd. Finally, KeyCorp restated a “positive” rating and set a $90.00 target price (up from $80.00) on shares of Cavium in a research report on Thursday, November 16th. They noted that the move was a valuation call. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $78.41.
Cavium Inc (CAVM) opened at $83.77 on Friday. The firm has a market cap of $5,809.77, a PE ratio of 77.79, a price-to-earnings-growth ratio of 3.38 and a beta of 1.36. Cavium Inc has a 1 year low of $56.96 and a 1 year high of $88.96. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.87 and a quick ratio of 2.27.
Cavium (NASDAQ:CAVM) last issued its quarterly earnings data on Wednesday, November 1st. The semiconductor provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. The business had revenue of $251.99 million during the quarter, compared to the consensus estimate of $250.16 million. Cavium had a negative net margin of 19.94% and a positive return on equity of 11.16%. The company’s revenue was up 49.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.43 earnings per share. sell-side analysts expect that Cavium Inc will post 1.33 EPS for the current year.
In other Cavium news, VP Anil Kumar Jain sold 8,500 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $85.90, for a total value of $730,150.00. Following the completion of the transaction, the vice president now owns 91,616 shares in the company, valued at $7,869,814.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Vincent P. Pangrazio sold 15,000 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $77.22, for a total transaction of $1,158,300.00. Following the completion of the transaction, the senior vice president now owns 60,039 shares of the company’s stock, valued at approximately $4,636,211.58. The disclosure for this sale can be found here. Corporate insiders own 4.65% of the company’s stock.
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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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