GSA Capital Partners LLP Takes Position in Cavium, Inc. (CAVM)
GSA Capital Partners LLP acquired a new position in shares of Cavium, Inc. (NASDAQ:CAVM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 15,842 shares of the semiconductor provider’s stock, valued at approximately $984,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of CAVM. BlackRock Inc. boosted its holdings in Cavium by 64,275.6% during the 1st quarter. BlackRock Inc. now owns 4,382,691 shares of the semiconductor provider’s stock worth $314,065,000 after acquiring an additional 4,375,883 shares during the last quarter. Jericho Capital Asset Management L.P. purchased a new position in Cavium during the 1st quarter worth $20,835,000. Vanguard Group Inc. boosted its holdings in Cavium by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 5,121,457 shares of the semiconductor provider’s stock worth $367,004,000 after acquiring an additional 211,144 shares during the last quarter. OppenheimerFunds Inc. purchased a new position in Cavium during the 1st quarter worth $14,616,000. Finally, Neuberger Berman Group LLC purchased a new position in Cavium during the 2nd quarter worth $11,805,000. 98.38% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on the stock. Raymond James Financial, Inc. reaffirmed an “outperform” rating and set a $75.00 price objective on shares of Cavium in a report on Thursday, September 14th. KeyCorp reaffirmed a “hold” rating on shares of Cavium in a report on Friday, September 1st. Loop Capital reaffirmed a “buy” rating and set a $81.00 price objective on shares of Cavium in a report on Tuesday, August 22nd. MKM Partners reaffirmed a “buy” rating and set a $81.00 price objective on shares of Cavium in a report on Wednesday, August 16th. Finally, BidaskClub raised shares of Cavium from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $77.80.
In other news, COO Muhammad Raghib Hussain sold 20,000 shares of Cavium stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $61.85, for a total transaction of $1,237,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 4.65% of the company’s stock.
Shares of Cavium, Inc. (CAVM) opened at 65.94 on Friday. The stock’s 50 day moving average price is $62.03 and its 200 day moving average price is $67.26. Cavium, Inc. has a 12 month low of $50.81 and a 12 month high of $76.26. The company’s market capitalization is $4.53 billion.
Cavium (NASDAQ:CAVM) last announced its earnings results on Wednesday, August 2nd. The semiconductor provider reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.02. The business had revenue of $242.09 million for the quarter, compared to analysts’ expectations of $238.93 million. Cavium had a positive return on equity of 5.94% and a negative net margin of 22.82%. The business’s revenue for the quarter was up 125.8% on a year-over-year basis. During the same period last year, the firm posted $0.29 earnings per share. On average, analysts forecast that Cavium, Inc. will post $2.79 EPS for the current year.
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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