Today: Today, Victory Capital Management Inc. Buys Shares of 1,214,404 Cavium Inc. (CAVM)

Today, Victory Capital Management Inc. Buys Shares of 1,214,404 Cavium Inc. (CAVM)

Victory Capital Management Inc. purchased a new stake in shares of Cavium Inc. (NASDAQ:CAVM) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,214,404 shares of the semiconductor provider’s stock, valued at approximately $70,678,000. Victory Capital Management Inc. owned approximately 2.10% of Cavium at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Kalmar Investments Inc. DE boosted its stake in Cavium by 153.7% in the second quarter. Kalmar Investments Inc. DE now owns 339,660 shares of the semiconductor provider’s stock valued at $13,111,000 after buying an additional 205,770 shares in the last quarter. Henderson Group PLC increased its position in Cavium by 86.9% in the second quarter. Henderson Group PLC now owns 631,623 shares of the semiconductor provider’s stock valued at $24,390,000 after buying an additional 293,620 shares during the last quarter. Public Employees Retirement Association of Colorado increased its position in Cavium by 18.2% in the second quarter. Public Employees Retirement Association of Colorado now owns 190,187 shares of the semiconductor provider’s stock valued at $7,341,000 after buying an additional 29,240 shares during the last quarter. Standard Life Investments LTD increased its position in Cavium by 19.1% in the second quarter. Standard Life Investments LTD now owns 3,799,853 shares of the semiconductor provider’s stock valued at $146,731,000 after buying an additional 608,685 shares during the last quarter. Finally, Comgest Global Investors S.A.S. increased its position in Cavium by 8.9% in the second quarter. Comgest Global Investors S.A.S. now owns 405,230 shares of the semiconductor provider’s stock valued at $15,642,000 after buying an additional 33,213 shares during the last quarter. 99.71% of the stock is owned by institutional investors and hedge funds.

Shares of Cavium Inc. (NASDAQ:CAVM) traded up 0.20% on Friday, reaching $55.00. The company had a trading volume of 192,764 shares. The company has a 50 day moving average price of $55.15 and a 200 day moving average price of $50.18. The stock’s market capitalization is $3.69 billion. Cavium Inc. has a 52-week low of $35.90 and a 52-week high of $69.05.

Cavium (NASDAQ:CAVM) last released its earnings results on Tuesday, November 1st. The semiconductor provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. The firm earned $168.10 million during the quarter, compared to the consensus estimate of $159.55 million. Cavium had a negative return on equity of 0.51% and a negative net margin of 5.57%. The firm’s revenue for the quarter was up 59.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 earnings per share. On average, equities research analysts anticipate that Cavium Inc. will post $1.54 earnings per share for the current year.

Several research firms recently weighed in on CAVM. TheStreet raised Cavium from a “sell” rating to a “hold” rating in a research note on Friday, September 2nd. Zacks Investment Research downgraded Cavium from a “buy” rating to a “hold” rating in a research note on Monday, August 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $66.00 price objective on shares of Cavium in a research note on Thursday, August 25th. Brean Capital reaffirmed a “buy” rating and issued a $57.00 price objective (down from $60.00) on shares of Cavium in a research note on Thursday, July 28th. Finally, Barclays PLC raised their price objective on Cavium from $54.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, August 5th. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $61.11.

In other Cavium news, CEO Syed Ali sold 109,948 shares of the company’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $54.85, for a total value of $6,030,647.80. Following the transaction, the chief executive officer now owns 1,843,431 shares of the company’s stock, valued at $101,112,190.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.63% of the stock is owned by company insiders.

Cavium Company Profile

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