ShearLink Capital LLC Acquires 158,824 Shares of Cavium, Inc. (CAVM)
ShearLink Capital LLC raised its holdings in shares of Cavium, Inc. (NASDAQ:CAVM) by 47.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 490,134 shares of the semiconductor provider’s stock after purchasing an additional 158,824 shares during the quarter. Cavium accounts for approximately 13.4% of ShearLink Capital LLC’s investment portfolio, making the stock its largest holding. ShearLink Capital LLC owned approximately 0.72% of Cavium worth $30,452,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in CAVM. Nationwide Fund Advisors raised its holdings in shares of Cavium by 31.2% in the first quarter. Nationwide Fund Advisors now owns 52,589 shares of the semiconductor provider’s stock valued at $3,769,000 after acquiring an additional 12,494 shares in the last quarter. Strs Ohio raised its holdings in shares of Cavium by 5.6% in the first quarter. Strs Ohio now owns 11,300 shares of the semiconductor provider’s stock valued at $809,000 after acquiring an additional 600 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of Cavium by 1.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 37,538 shares of the semiconductor provider’s stock valued at $2,690,000 after acquiring an additional 410 shares in the last quarter. First Trust Advisors LP bought a new stake in shares of Cavium in the first quarter valued at about $274,000. Finally, US Bancorp DE raised its holdings in shares of Cavium by 85.1% in the first quarter. US Bancorp DE now owns 1,888 shares of the semiconductor provider’s stock valued at $135,000 after acquiring an additional 868 shares in the last quarter. Institutional investors and hedge funds own 98.38% of the company’s stock.
In other news, COO Muhammad Raghib Hussain sold 20,000 shares of the firm’s 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.65% of the stock is currently owned by company insiders.
Several analysts recently weighed in on CAVM shares. Longbow Research started coverage on Cavium in a report on Friday, June 9th. They issued a “buy” rating and a $85.00 price objective for the company. BidaskClub lowered Cavium from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Pacific Crest reiterated an “equal weight” rating on shares of Cavium in a research note on Thursday, June 22nd. Jefferies Group LLC upgraded Cavium from a “hold” rating to a “buy” rating and lifted their target price for the company from $73.00 to $79.00 in a research note on Monday, July 10th. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $66.00 target price on shares of Cavium in a research note on Tuesday, July 11th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. Cavium currently has a consensus rating of “Buy” and an average target price of $77.80.
Shares of Cavium, Inc. (NASDAQ CAVM) traded down 1.37% during midday trading on Thursday, hitting $67.00. The stock had a trading volume of 205,242 shares. The firm has a 50 day moving average price of $62.03 and a 200 day moving average price of $67.26. The stock’s market cap is $4.61 billion. Cavium, Inc. has a one year low of $50.81 and a one year high of $76.26.
Cavium (NASDAQ:CAVM) last issued its earnings results on Wednesday, August 2nd. The semiconductor provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.02. Cavium had a positive return on equity of 5.94% and a negative net margin of 22.82%. The business had revenue of $242.09 million for the quarter, compared to analyst estimates of $238.93 million. During the same quarter last year, the company earned $0.29 EPS. The business’s quarterly revenue was up 125.8% on a year-over-year basis. On average, equities analysts forecast that Cavium, Inc. will post $2.79 earnings per share for the current fiscal 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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