Russell Investments Group Ltd. increased its stake in Cavium, Inc. (NASDAQ:CAVM) by 25.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 504,977 shares of the semiconductor provider’s stock after buying an additional 103,493 shares during the period. Russell Investments Group Ltd.’s holdings in Cavium were worth $31,373,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. FNY Partners Fund LP raised its stake in shares of Cavium by 1.2% in the first quarter. FNY Partners Fund LP now owns 3,400 shares of the semiconductor provider’s stock valued at $243,000 after buying an additional 40 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Cavium by 6.9% in the first quarter. IFP Advisors Inc now owns 1,559 shares of the semiconductor provider’s stock valued at $112,000 after buying an additional 101 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Cavium by 3.0% in the first quarter. Prudential Financial Inc. now owns 6,917 shares of the semiconductor provider’s stock valued at $496,000 after buying an additional 200 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of Cavium by 4.9% in the first quarter. Massmutual Trust Co. FSB ADV now owns 6,297 shares of the semiconductor provider’s stock valued at $451,000 after buying an additional 292 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its stake 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 buying an additional 410 shares in the last quarter.
Cavium, Inc. (NASDAQ:CAVM) traded up 3.20% during trading on Thursday, hitting $62.31. 1,511,800 shares of the stock traded hands. The firm has a 50-day moving average price of $64.96 and a 200 day moving average price of $68.19. Cavium, Inc. has a 52-week low of $45.63 and a 52-week high of $76.26. The company’s market cap is $4.23 billion.
Cavium (NASDAQ:CAVM) last released its earnings results on Wednesday, August 2nd. The semiconductor provider reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.02. The company had revenue of $242.09 million during the quarter, compared to analyst estimates of $238.93 million. Cavium had a negative net margin of 26.52% and a positive return on equity of 4.05%. The firm’s quarterly revenue was up 125.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.29 EPS. On average, equities analysts expect that Cavium, Inc. will post $2.77 EPS for the current year.
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Several analysts have commented on the stock. Stifel Nicolaus lifted their price objective on shares of Cavium from $55.00 to $66.00 and gave the stock a “hold” rating in a research report on Thursday, April 27th. Longbow Research initiated coverage on shares of Cavium in a research note on Friday, June 9th. They issued a “buy” rating and a $85.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and issued a $78.00 target price (up previously from $77.00) on shares of Cavium in a research note on Thursday, April 27th. BidaskClub downgraded shares of Cavium from a “hold” rating to a “sell” rating in a research note on Saturday, July 1st. Finally, Pacific Crest reiterated an “equal weight” rating on shares of Cavium in a research note on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $74.53.
In related news, SVP Vincent P. Pangrazio sold 15,000 shares of the stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $75.73, for a total value of $1,135,950.00. Following the completion of the sale, the senior vice president now directly owns 60,039 shares of the company’s stock, valued at approximately $4,546,753.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Arthur D. Chadwick sold 40,000 shares of the stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $75.14, for a total transaction of $3,005,600.00. Following the completion of the sale, the vice president now directly owns 75,383 shares of the company’s stock, valued at $5,664,278.62. The disclosure for this sale can be found here. Corporate insiders own 4.65% of the company’s stock.
About Cavium
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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