Fred Alger Management Inc. boosted its position in Cavium, Inc. (NASDAQ:CAVM) by 15.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 527,131 shares of the semiconductor provider’s stock after buying an additional 71,873 shares during the period. Fred Alger Management Inc. owned approximately 0.79% of Cavium worth $32,914,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in Cavium by 695.8% in the third quarter. Bank of New York Mellon Corp now owns 2,129,252 shares of the semiconductor provider’s stock worth $123,923,000 after buying an additional 1,861,704 shares during the period. FMR LLC increased its stake in Cavium by 14.6% in the fourth quarter. FMR LLC now owns 10,050,510 shares of the semiconductor provider’s stock worth $627,554,000 after buying an additional 1,277,223 shares during the period. Victory Capital Management Inc. purchased a new stake in Cavium during the third quarter worth $70,678,000. Ameriprise Financial Inc. increased its stake in Cavium by 55.2% in the third quarter. Ameriprise Financial Inc. now owns 2,664,024 shares of the semiconductor provider’s stock worth $155,047,000 after buying an additional 947,473 shares during the period. Finally, Chartwell Investment Partners LLC increased its stake in Cavium by 452.9% in the third quarter. Chartwell Investment Partners LLC now owns 969,063 shares of the semiconductor provider’s stock worth $56,399,000 after buying an additional 793,808 shares during the period.

Institutional Ownership by Quarter for Cavium (NASDAQ:CAVM)

Shares of Cavium, Inc. (NASDAQ:CAVM) traded up 1.57% during midday trading on Thursday, hitting $66.53. The stock had a trading volume of 1,019,115 shares. Cavium, Inc. has a 52 week low of $35.90 and a 52 week high of $69.13. The stock has a 50-day moving average of $64.36 and a 200 day moving average of $58.02. The stock’s market cap is $4.46 billion.

Cavium (NASDAQ:CAVM) last posted its quarterly earnings data on Wednesday, February 1st. The semiconductor provider reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.02. The company earned $226.20 million during the quarter, compared to analyst estimates of $224.49 million. Cavium had a negative net margin of 24.40% and a positive return on equity of 2.07%. The company’s revenue was up 124.2% on a year-over-year basis. During the same quarter last year, the business posted $0.28 earnings per share. Analysts anticipate that Cavium, Inc. will post $2.69 EPS for the current fiscal year.

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A number of equities research analysts have weighed in on CAVM shares. Canaccord Genuity restated a “hold” rating and issued a $60.00 target price on shares of Cavium in a research report on Tuesday, January 31st. Loop Capital started coverage on Cavium in a research report on Monday, December 5th. They issued a “buy” rating and a $66.00 target price for the company. Needham & Company LLC restated a “buy” rating and issued a $66.00 target price on shares of Cavium in a research report on Wednesday, November 2nd. Benchmark Co. upped their target price on Cavium from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, November 2nd. Finally, Zacks Investment Research upgraded Cavium from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Wednesday, February 8th. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $65.46.

In related news, Director Anthony S. Thornley sold 12,500 shares of the firm’s stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $65.68, for a total value of $821,000.00. Following the completion of the sale, the director now owns 23,208 shares of the company’s stock, valued at $1,524,301.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Syed Ali sold 109,948 shares of the firm’s stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $54.85, for a total transaction of $6,030,647.80. Following the completion of the sale, the chief executive officer now directly owns 1,843,431 shares of the company’s stock, valued at approximately $101,112,190.35. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 159,948 shares of company stock valued at $9,316,148. Company insiders own 4.63% of the company’s stock.

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.

5 Day Chart for NASDAQ:CAVM

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