Westfield Capital Management Co. LP boosted its stake in Cavium, Inc. (NASDAQ:CAVM) by 7.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 744,560 shares of the semiconductor provider’s stock after buying an additional 48,645 shares during the period. Westfield Capital Management Co. LP owned 1.09% of Cavium worth $46,260,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of CAVM. US Bancorp DE lifted its holdings in Cavium by 85.1% in the first quarter. US Bancorp DE now owns 1,888 shares of the semiconductor provider’s stock worth $135,000 after buying an additional 868 shares during the period. Solaris Asset Management LLC lifted its holdings in Cavium by 43.4% in the second quarter. Solaris Asset Management LLC now owns 2,295 shares of the semiconductor provider’s stock worth $143,000 after buying an additional 695 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in Cavium by 107.3% in the second quarter. BNP Paribas Arbitrage SA now owns 2,579 shares of the semiconductor provider’s stock worth $160,000 after buying an additional 1,335 shares during the period. Bluestein R H & Co. purchased a new stake in Cavium in the first quarter worth about $215,000. Finally, Pacad Investment Ltd. lifted its holdings in Cavium by 42.3% in the second quarter. Pacad Investment Ltd. now owns 3,700 shares of the semiconductor provider’s stock worth $230,000 after buying an additional 1,100 shares during the period. Institutional investors and hedge funds own 98.25% of the company’s stock.
In other Cavium news, COO Muhammad Raghib Hussain sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were 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 available at this hyperlink. Corporate insiders own 4.65% of the company’s stock.
Several equities analysts have recently issued reports on CAVM shares. BidaskClub lowered shares of Cavium from a “hold” rating to a “sell” rating in a report on Saturday, July 1st. Barclays PLC upgraded shares of Cavium from an “equal weight” rating to an “overweight” rating in a report on Friday, July 21st. Pacific Crest reiterated an “equal weight” rating on shares of Cavium in a report on Thursday, June 22nd. Jefferies Group LLC upgraded shares of 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 report on Monday, July 10th. Finally, Longbow Research started coverage on shares of Cavium in a report on Friday, June 9th. They set a “buy” rating and a $85.00 target price for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. Cavium presently has an average rating of “Buy” and an average price target of $77.00.
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Shares of Cavium, Inc. (CAVM) traded up 3.95% during midday trading on Friday, hitting $66.55. 1,735,583 shares of the company traded hands. The company has a 50-day moving average price of $61.59 and a 200-day moving average price of $67.21. The stock’s market capitalization is $4.58 billion. Cavium, Inc. has a 52 week low of $50.81 and a 52 week high of $76.26.
Cavium (NASDAQ:CAVM) last posted its earnings results on Wednesday, August 2nd. The semiconductor provider reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.02. Cavium had a negative net margin of 22.82% and a positive return on equity of 5.94%. The company had revenue of $242.09 million during the quarter, compared to analysts’ expectations of $238.93 million. During the same quarter in the prior year, the company posted $0.29 earnings per share. Cavium’s revenue for the quarter was up 125.8% compared to the same quarter last year. Analysts anticipate 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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