Cipher Capital LP Acquires New Position in Cavium, Inc. (CAVM)
Cipher Capital LP acquired a new position in shares of Cavium, Inc. (NASDAQ:CAVM) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,452 shares of the semiconductor provider’s stock, valued at approximately $491,000.
A number of other institutional investors also recently added to or reduced their stakes in the business. Solaris Asset Management LLC grew its holdings in shares of Cavium by 43.4% during the second quarter. Solaris Asset Management LLC now owns 2,295 shares of the semiconductor provider’s stock worth $143,000 after purchasing an additional 695 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Cavium by 107.3% during the second quarter. BNP Paribas Arbitrage SA now owns 2,579 shares of the semiconductor provider’s stock worth $160,000 after purchasing an additional 1,335 shares during the last quarter. World Asset Management Inc bought a new stake in shares of Cavium during the third quarter worth $203,000. Tudor Investment Corp ET AL bought a new stake in shares of Cavium during the second quarter worth $228,000. Finally, Pacad Investment Ltd. grew its holdings in shares of Cavium by 42.3% during the second quarter. Pacad Investment Ltd. now owns 3,700 shares of the semiconductor provider’s stock worth $230,000 after purchasing an additional 1,100 shares during the last quarter.
Several brokerages have recently commented on CAVM. Jefferies Group LLC set a $79.00 target price on Cavium and gave the stock a “buy” rating in a report on Thursday, October 19th. Benchmark Co. cut Cavium from a “buy” rating to a “hold” rating in a report on Monday, November 20th. MKM Partners restated a “buy” rating and set a $81.00 target price on shares of Cavium in a report on Wednesday, August 16th. Loop Capital restated a “buy” rating and set a $81.00 target price on shares of Cavium in a report on Tuesday, August 22nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $78.00 price target on shares of Cavium in a report on Thursday, November 2nd. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $78.41.
Cavium, Inc. (NASDAQ:CAVM) opened at $88.80 on Monday. The company has a current ratio of 2.87, a quick ratio of 2.27 and a debt-to-equity ratio of 0.81. Cavium, Inc. has a 1-year low of $53.76 and a 1-year high of $88.96. The stock has a market capitalization of $6,141.05, a PE ratio of 82.22, a price-to-earnings-growth ratio of 3.20 and a beta of 1.27.
Cavium (NASDAQ:CAVM) last issued its earnings results on Wednesday, November 1st. The semiconductor provider reported $0.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.02. Cavium had a positive return on equity of 11.16% and a negative net margin of 19.94%. The firm had revenue of $251.99 million for the quarter, compared to analysts’ expectations of $250.16 million. During the same quarter last year, the business earned $0.43 earnings per share. The company’s revenue was up 49.9% compared to the same quarter last year. sell-side analysts expect that Cavium, Inc. will post 1.33 EPS for the current year.
In other news, VP Anil Kumar Jain sold 8,500 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $85.90, for a total transaction of $730,150.00. Following the sale, the vice president now owns 91,616 shares of the company’s stock, valued at $7,869,814.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Vincent P. Pangrazio sold 15,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $77.22, for a total value of $1,158,300.00. Following the sale, the senior vice president now directly owns 60,039 shares in the company, valued at approximately $4,636,211.58. The disclosure for this sale can be found here. 4.65% of the stock is currently owned by company insiders.
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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