Fisher Asset Management LLC boosted its position in shares of Cavium Inc. (NASDAQ:CAVM) by 36.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 134,650 shares of the semiconductor provider’s stock after buying an additional 35,722 shares during the period. Fisher Asset Management LLC’s holdings in Cavium were worth $7,837,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CAVM. First Mercantile Trust Co. bought a new position in Cavium during the third quarter valued at approximately $106,000. Pacer Advisors Inc. bought a new position in Cavium during the second quarter valued at approximately $177,000. Seven Eight Capital LLC bought a new position in Cavium during the second quarter valued at approximately $185,000. BlackRock Inc. increased its position in Cavium by 31.7% in the second quarter. BlackRock Inc. now owns 4,909 shares of the semiconductor provider’s stock valued at $189,000 after buying an additional 1,181 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in Cavium by 5.4% in the second quarter. Prudential Financial Inc. now owns 5,892 shares of the semiconductor provider’s stock valued at $227,000 after buying an additional 300 shares in the last quarter.
Shares of Cavium Inc. (NASDAQ:CAVM) traded up 0.58% during midday trading on Monday, reaching $55.32. 1,122,037 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $55.00 and its 200 day moving average is $50.23. The firm’s market cap is $3.71 billion. Cavium Inc. has a one year low of $35.90 and a one year high of $69.05.
Cavium (NASDAQ:CAVM) last announced its quarterly earnings results on Tuesday, November 1st. The semiconductor provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.04. The business had revenue of $168.10 million for the quarter, compared to analyst estimates of $159.55 million. Cavium had a negative return on equity of 0.51% and a negative net margin of 5.57%. The company’s quarterly revenue was up 59.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 earnings per share. Analysts anticipate that Cavium Inc. will post $1.54 EPS for the current year.
A number of brokerages recently issued reports on CAVM. Needham & Company LLC restated a “buy” rating and set a $66.00 price target on shares of Cavium in a report on Thursday, August 25th. Zacks Investment Research upgraded Cavium from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a report on Tuesday, September 27th. Benchmark Co. boosted their price target on Cavium from $60.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, November 2nd. TheStreet upgraded Cavium from a “sell” rating to a “hold” rating in a report on Friday, September 2nd. Finally, Pacific Crest restated a “hold” rating and set a $50.50 price target on shares of Cavium in a report on Wednesday, August 17th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $61.11.
In other Cavium news, CEO Syed Ali sold 109,948 shares of the stock in a transaction that occurred 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 in the company, valued at $101,112,190.35. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.63% of the stock is owned by company insiders.
Cavium Company Profile
Cavium, Inc is a provider of semiconductor processors, which enables processing for wired and wireless networking, communications, storage, cloud, wireless, security, video and connected home and office applications. The Company’s products include OCTEON, OCTEON Fusion, OCTEON XL, LiquidIO, NITROX, NEURON Search, ThunderX, Xpliant and XPA.