Cavium Inc. (CAVM) Short Interest Down 23.5% in August
Cavium Inc. (NASDAQ:CAVM) saw a significant decline in short interest in August. As of August 31st, there was short interest totalling 7,547,824 shares, a decline of 23.5% from the August 15th total of 9,867,300 shares. Based on an average trading volume of 1,033,005 shares, the short-interest ratio is presently 7.3 days. Approximately 11.8% of the company’s stock are short sold.
Shares of Cavium (NASDAQ:CAVM) opened at 57.67 on Thursday. Cavium has a 52-week low of $35.90 and a 52-week high of $73.95. The firm’s market cap is $3.34 billion. The firm has a 50-day moving average of $53.43 and a 200 day moving average of $50.79.
Cavium (NASDAQ:CAVM) last released its quarterly earnings data on Tuesday, July 26th. The semiconductor provider reported $0.29 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.29. Cavium had a negative net margin of 1.94% and a positive return on equity of 4.39%. The firm earned $107.20 million during the quarter, compared to analysts’ expectations of $106.70 million. During the same period in the previous year, the business posted $0.41 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities analysts predict that Cavium will post $1.44 earnings per share for the current year.
Several analysts recently issued reports on the stock. Susquehanna assumed coverage on shares of Cavium in a report on Tuesday. They set a “positive” rating and a $65.00 price objective for the company. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Cavium in a report on Tuesday, September 13th. TheStreet raised shares of Cavium from a “sell” rating to a “hold” rating in a report on Friday, September 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $66.00 price objective on shares of Cavium in a report on Thursday, August 25th. Finally, Pacific Crest reaffirmed a “hold” rating and set a $50.50 price objective on shares of Cavium in a report on Wednesday, August 17th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the stock. Cavium presently has an average rating of “Hold” and an average price target of $60.03.
In other news, VP Arthur D. Chadwick acquired 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The stock was acquired at an average cost of $51.94 per share, with a total value of $519,400.00. Following the acquisition, the vice president now owns 102,845 shares in the company, valued at $5,341,769.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Arthur D. Chadwick acquired 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were purchased at an average cost of $55.33 per share, with a total value of $1,106,600.00. Following the completion of the acquisition, the vice president now owns 122,845 shares in the company, valued at approximately $6,797,013.85. The disclosure for this purchase can be found here. 4.63% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in CAVM. Massmutual Trust Co. FSB ADV bought a new position in Cavium during the first quarter worth approximately $226,000. BlackRock Inc. boosted its position in Cavium by 124.8% in the first quarter. BlackRock Inc. now owns 3,728 shares of the semiconductor provider’s stock worth $228,000 after buying an additional 2,070 shares during the period. Pacer Advisors Inc. bought a new position in Cavium during the second quarter worth approximately $177,000. Seven Eight Capital LLC bought a new position in Cavium during the second quarter worth approximately $185,000. Finally, Rafferty Asset Management LLC bought a new position in Cavium during the first quarter worth approximately $313,000. 93.93% of the stock is owned by hedge funds and other institutional investors.
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.
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